Authored by GoldFix for Scottsdale Mint 

Financed by JPMorgan, Jointly Owned by US DoD

Under the plan, the U.S. Department of Defense will hold a 40% stake in the JPM Financed smelter joint-venture.

GFN – WASHINGTON: Korea Zinc plans a $7.4 billion investment to construct a large-scale non-ferrous metals smelter in Clarksville, Tennessee, a project U.S. officials say will materially expand domestic critical minerals processing capacity and strengthen supply chain security.1

The project, known as the "U.S. Smelter," is expected to require approximately $6.6 billion in capital expenditures, with total investment reaching $7.4 billion including financing costs. It is being developed in coordination with the U.S. Department of War and the U.S. Department of Commerce, according to project materials and government statements.

Deputy Secretary of War Steve Feinberg said the investment reflects a strategic shift in U.S. industrial and defense priorities.

"President Trump has directed his Administration to prioritize critical minerals as essential to America's defense and economic security," Feinberg said.

"The Department of War's conditional investment of $1.4 billion to build the first U.S.-based zinc smelter and critical minerals processing facility since the 1970s reverses decades of industrial decline. The new smelter in Tennessee creates 750 American jobs and expands access to strategic minerals across aerospace, defense, electronics, and advanced manufacturing."

Proposed site of the Clarksville, Tennessee smelter