Korea Zinc Will Build $7.4 Billion Tennessee Smelter

The facility marks the first new mineral smelter in the United States since 1979.

Updated on Oct. 12, 2026 in Manufacturing

Korea Zinc Will Build $7.4 Billion Tennessee Smelter

Live Poll

Do you believe attracting foreign investment is the best way to grow your local economy?

Korea Zinc is developing the Project Crucible mineral smelter in Tennessee, a massive $7.4 billion initiative set to create 740 jobs across Montgomery and Smith counties. This facility aims to produce 11 minerals designated as critical by the U.S. government to bolster domestic supply chains.

Why it matters

The project serves as a cornerstone for U.S.-Korea cooperation, aimed at reducing American reliance on China and other foreign suppliers for essential raw materials. By establishing new processing capacity, Washington seeks to secure the future availability of minerals vital to national interests.

The $7.4 billion facility will produce 11 distinct minerals, including zinc, lead, and copper, while creating 740 new jobs. It is the first project of its kind to be developed in the U.S. since 1979.

The players

Korea Zinc

This corporation is the lead developer of the $7.4 billion Project Crucible mineral smelter in Tennessee.

Howard Lutnick

He is the Commerce Secretary who publicly highlighted the project during a supply chain roundtable.

Donald Trump

He is the current President of the United States who spoke about the industrial project at a rally.

The details

Project Crucible focuses on refining a wide range of materials, including silver, antimony, indium, bismuth, tellurium, palladium, and gallium. The company is developing the site in direct cooperation with the U.S. government and various partners to ensure the domestic processing capacity meets national security needs.

1979: The year the last new mineral smelter opened in the United States.
Aug. 7, 2026: Commerce Secretary Howard Lutnick cited the project at a supply chain roundtable.
Oct. 10, 2026: President Donald Trump discussed the project during a rally.

Market Landscape

This investment signals a major shift in industrial strategy, moving away from overseas dependency and toward concentrated domestic processing capabilities. By anchoring U.S.-Korea collaboration, the project positions itself to gain significant market share in the critical minerals sector.

Residents in Montgomery and Smith counties can expect a significant boost to the local labor market with the creation of 740 jobs. The facility aims to stabilize the supply chain for critical materials, which may eventually influence costs for goods requiring these specific minerals.

The takeaway

This project represents a structural pivot toward domestic industrial self-sufficiency in the processing of essential materials. It reflects a long-term commitment to insulating the U.S. economy from foreign supply chain disruptions.