Korea Zinc, US firm to build JV in US to secure rare earth materials

Korea Zinc, the world's biggest refined zinc smelter, said Tuesday it has partnered with a U.S. company to secure rare earth materials amid growing concerns over global supply chain security. Under the partnership, Korea Zinc and Alta Resource Technologies will set up a joint venture (JV) in the United States to process end-of-life permanent magnets into purified rare earth oxides, the company said in a press release. The JV plans to build a 100-ton-per-year processing facility at an existing U.S. site operated by PedalPoint, Korea Zinc's wholly owned U.S.-based resource recycling subsidiary, with the aim of beginning operations in 2027, it said. "Following our initiative to construct a smelter in the U.S. that will serve as a central pillar of the Korea-U.S. critical minerals supply chain, this cooperation between the two companies marks an important milestone in the rare earths sector," Korea Zinc Chairman Choi Yun-beom said. Korea Zinc will serve as a reliable supply chain partner, ensuring the stable provision of rare earth elements to advanced industrial companies in both Korea andWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times