Korea Zinc's U.S. Smelter 'Project Crucible' Incorporated into Fast-Track Program

Aiming for Completion by 2029
Streamlined Permitting Process Anticipated
Yoonbum Choi: "Roadmap on Track"

Korea Zinc's integrated smelter construction project, "Project Crucible," currently underway in Tennessee, United States, is expected to gain momentum after being included in the U.S. federal government's fast-track program. This marks the first time that a project led by a Korean company has been incorporated into this system.

On April 27, Korea Zinc announced that Project Crucible has been designated as a target for the "FAST-41" program (Title 41 of the Fixing America's Surface Transportation Act), which is a federal fast-track system for major infrastructure and resource projects in the United States.

Choi Yunbum, Chairman of Korea Zinc (center front), is touring the smelting plant facilities directly with local employees in the United States. Korea Zinc

This program streamlines and manages the permitting process for national strategic large-scale infrastructure and resource projects by consolidating the reviews conducted by multiple government agencies, significantly reducing the timeline. Through this system, the permit schedule of designated projects is integrated, coordinated, and managed to mitigate schedule and cost risks. According to the U.S. Permitting Council, projects designated under FAST-41 receive their final records of decision in an average of 18 months, significantly shorter than non-designated projects.

Korea Zinc expects that this project will also contribute in the mid-to-long term to strengthening Korea-U.S. economic and security cooperation based on a critical minerals supply chain. Project Crucible involves an investment of a total of 7.4 billion dollars (approximately 11 trillion won) by 2029 to build an integrated smelter capable of processing about 1.1 million tons of raw materials annually. The company is also pursuing related projects, including the acquisition of the local Nyrstar USA smelter and its affiliates in the United States. This is the first case of a Korean company being incorporated into this fast-track program.

Yoonbum Choi, Chairman of Korea Zinc, stated, "The designation of Project Crucible under FAST-41 is an important milestone in establishing a safe and resilient critical minerals supply chain, and I would like to express my deep gratitude to the U.S. government for its generous support in enabling us to pursue the project efficiently and on schedule." He added, "Korea Zinc will remain fully committed to the success of this project by continuing close communication and consultation with not only the U.S. federal government but also stakeholders in Tennessee and other related parties."

He further commented, "We will thoroughly execute Project Crucible's roadmap to begin construction in 2027 and complete the project in 2029, realizing a world-class facility for processing critical minerals and doing our utmost as a core company in Korea's national key industries to contribute to the stabilization of supply chains and economic security for both Korea and the United States."

This content was produced with the assistance of AI translation services.