The US has backed a $7.4bn investment in a critical minerals processing plant to be built by Korea Zinc as Washington tries to counter China’s dominance over the supply chain for strategic metals.
Korea Zinc, the world’s biggest zinc smelter, said the US government had asked the company to build the facility to address growing supply-chain risks for materials essential to industries from cars to defence.
The plant will produce antimony, germanium and gallium — elements used in semiconductors and electronics — as well as non-ferrous metals such as zinc, lead and copper and precious metals including gold and silver.
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