Korea Zinc Chairman Yun B. Choi (L) shakes hands with Australia’s Prime Minister Anthony Albanese at the latter’s office in Canberra on Wednesday. Photo by Korea Zinc
June 25 (UPI) — Korea Zinc said Thursday that Chairman Yun B. Choi visited Australia this week to meet with the country’s Prime Minister Anthony Albanese to discuss ways to strengthen collaboration on critical minerals.
During the bilateral meeting in Canberra on Wednesday, Albanese described U.S. Project Crucible as a valuable model, which the Australian government could benchmark, according to Korea Zinc.
The $7.4 billion initiative involves the construction of an integrated smelter in Clarksville, Tenn. Groundbreaking is scheduled for next year, with commercial production expected to begin in 2029. Toward that end, Korea Zinc cooperates with the U.S. government.
Once operational, the facility will produce base metals such as zinc and lead, along with strategic minerals including germanium and gallium, which are crucial for the semiconductor, defense, and other high-tech industries.
The prime minister also said that Korea Zinc’s business model closely aligns with the Australian government’s resource and energy policy objectives, particularly its efforts to beef up critical industries.
In response, Choi stated that Korea Zinc will keep trying to build a win-win partnership with the Australian government. The world’s largest non-ferrous metals manufacturer operates an Australian affiliate, Sun Metals Corporation.
“Over the past 30 years, we have been a partner that has contributed to Australia’s industries and local communities while expanding beyond smelting into renewable energy and green hydrogen,” he said.
“The synergy between Australia’s abundant resources and our technological prowess and diverse business portfolio will continue to bear fruit in the future,” he added.
The share price of Korea Zinc rose 1.09% on the Seoul bourse on Thursday, while the benchmark KOSPI gained 5.42%.