Project is moving into its preliminary site preparation phase
(UCBJ) – Late last year, Korea Zinc (KZ) purchased the Gordonsville Zinc Mine (formerly Nyrstar) and the U.S. Smelter in Clarksville (what was the U.S.’s only primary Zinc Smelter, operated by a subsidiary of Trafigura). The $7.4 billion project, designed to create a “non-China” supply chain, is set to reopen the Gordonsville Zinc mine and is heavily backed by JPMorgan Chase & Co. and the U.S. Government.
KZ now owns that smelter after purchasing it for an undisclosed sum. As of May, the project is moving into its preliminary site preparation phase. This phase follows the formal launch of its dedicated subsidiary.
According to reports, commercial operations are scheduled to start in 2029.
Updates:
Entity Launch & Site Prep
KZ officially launched “Crucible Zinc Inc.” on April 1, 2026. It is set to oversee construction and operations in Clarksville, with site prep scheduled for this year (including equipment ordering).
Financing the project
KZ is in the process of “securing a 2.35M loan with JPMorgan Chase as the sole mandated lead arranger and underwriter as part of a brodaer $7.4 billion dollar investment package.
Government Backing & Ownership
The U.S. Department of Defense is set to hold a 40% stake in the joint venture, and additional financing hopes to be secured through the U.S. Commerce Department.
Production
Once running, the facility is designed to process 1 million tons of material annually for the defense and tech sectors, including:
- zinc
- lead
- copper
- rare metals (gallium, germanium)
As for the Gordonsville Mine, KZ plans to restart operations as a part of a broader restart cluster (Carthage and Elmwood mines in Smith County) as part of a full Middle Tennessee mining restart package. The ore from the mine will feed into KZ’s “broader TN strategy,” which includes the Clarksville Smelter expansion (“mine to smelter” system intended to reduce reliance on overseas supply.
Once reopened, 320 jobs should return to the area.
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