Korea Zinc board to discuss smelter joint venture plan with US government, source says [Yahoo! Finance Canada]
Lockheed Martin Corporation (LMT)
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Source: Yahoo! Finance Canada
SEOUL, Dec 15 (Reuters) - Korea Zinc's board will discuss on Monday a plan to build a 10 trillion won ($6.8 billion) smelter to refine critical minerals ?in the United States by forming a venture with the U.S. government and ?U.S. companies, a source familiar with the matter said. The news sent shares in Korea Zinc surging 11% in Monday ?morning trade. But major shareholders, who have been seeking to oust the refiner's chairman, lambasted the plan, saying it was aimed at cementing management's hold on the company. The new smelter would produce zinc, antimony, germanium and other critical minerals and would be part of efforts by Washington to reduce U.S. ?reliance on China amid heightened ?trade tensions, local media reported. The source was not authorised to speak to media and declined to be identified. A spokesperson for Korea Zinc was not ?immediately available for comment. According to South Korean newspaper Joongang Ilbo, the U.S. government and U.S. defence companies wil
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