Korea Zinc, the world’s largest zinc smelter, plans to build a facility in Tennessee in partnership with the United States government and private sector.

The company said Monday that its board had approved the plan and disclosed it in a regulatory filing and that the project aims to secure new growth engines.

Korea Zinc added that the investment will address global supply chain risks and rising U.S. demand for nonferrous metals and strategic minerals, while establishing a new production base to ensure stable, sustainable returns.

Korea Zinc's U.S. subsidiary, Crucible Metals LLC, will carry out the project for an estimated ten‑point‑95 trillion won, or about seven‑point‑43 billion U.S. dollars.

Funding will include two‑point‑86 trillion won raised via Crucible JV, a joint venture between Korea Zinc, the U.S. government and U.S. investors.

Construction is scheduled to begin in 2027, with completion targeted for 2029.