Korea Zinc chairman meets Australian PM to discuss critical minerals supply chain

Korea Zinc Chairman Choi Yun-beom met Australian Prime Minister Anthony Albanese to discuss strengthening critical minerals supply chains and boosting the competitiveness of the smelting industry. Both sides agreed to deepen communication on upgrading critical minerals value chains and stabilizing supply chains, and to actively explore future cooperation opportunities.

According to Korea Zinc, Choi visited Albanese at the prime minister's office in Canberra on Wednesday (local time). Albanese noted that Korea Zinc is pursuing not only smelter operations but also solar- and wind-based renewable energy and green hydrogen projects, saying the company's direction aligns with "Future Made in Australia" — the federal government's policy for industrial development and decarbonization.

Albanese cited Choi's track record as CEO of Sun Metals Corporation (SMC), a Korea Zinc subsidiary based in Townsville, Australia, and said Korea Zinc is "a trusted company with proven operational capabilities in Australia."

He added that "Chairman Choi has a deep understanding of Australia — its industrial environment and the importance of coexisting with local communities," and that "Korea Zinc is the company that best aligns with the Australian government's direction on resources and energy policy."

Choi said Korea Zinc "has been a partner contributing to the development of local industry and communities in Australia for the past 30 years, pursuing diverse projects beyond smelting — including renewable energy and green hydrogen." He added that "Australia's abundant resources, Korea Zinc's smelting technology and diverse business portfolio will continue to generate synergies going forward."

Both sides also agreed that SMC has expanded its production capacity through technological innovation and maintained strong profitability, even as many smelters in Australia face financial difficulties. Korea Zinc has operated its smelting business in Australia for about 30 years since establishing SMC in 1996, and has been expanding into renewable energy and green hydrogen on that foundation.

Project Crucible — Korea Zinc's plan, pursued in partnership with the US government, to build an integrated smelter in Tennessee — was also a key topic at the meeting. The project is a flagship initiative aimed at building a critical minerals supply chain within the United States and increasing the country's self-sufficiency in strategic minerals.

Choi said the project is advancing on the strength of Korea Zinc's smelting technology and US government policy support. Albanese described it as a model worth referencing for the Australian government and proposed expanding cooperation to strengthen the competitiveness of Australia's smelting industry.

Meanwhile, the Australian government unveiled its Critical Minerals Strategy in 2023 and has been pursuing supply chain stabilization as a national priority. It is also advancing a Critical Minerals Production Framework to secure a stable minerals supply chain in response to geopolitical supply chain risks.