Korea Zinc said on the 25th that it will strengthen communication with the Australian government to stabilize the critical minerals supply chain and seek cooperation opportunities.
Chairman Choi Yoon-beom of Korea Zinc met Australian Prime Minister Anthony Albanese in Canberra the previous day and discussed ways to strengthen Australia's critical minerals supply chain and enhance the competitiveness of the smelting industry.
In the meeting, Chairman Choi explained "Project Crucible," a plan to build an integrated smelter in Tennessee, U.S.
Project Crucible is a project to invest a total of $7.4 billion (about 11 trillion won) by 2029 to build an integrated smelter in Clarksville, Tennessee, that processes about 1.1 million tons of feedstock annually.
Chairman Choi said the stabilization of the critical minerals supply chain is being pursued by combining Korea Zinc's technological prowess with U.S. government policy support.
In response, Prime Minister Albanese said it is a good case the Australian government can benchmark and proposed strengthening communication to address challenges facing Australia's smelting industry.
Korea Zinc established Sun Metals Corporation (SMC) in 1996 in Australia and has expanded its business locally from smelters to renewable energy and green hydrogen.
Referring to this, Prime Minister Albanese said, "Korea Zinc is the corporations that best aligns with the Australian government's resources and energy policy direction."
Chairman Choi said, "Korea Zinc has been a partner that has contributed to and invested in Australia's industry and local communities over the past 30 years," and added, "Australia's abundant resources, Korea Zinc's technological prowess, and our diverse business portfolio can continue to generate various synergies."