JPMorgan, US Backing Korea Zinc’s $7.4 Billion Tennessee Smelter

JPMorgan Chase & Co. and the US government are backing Korea Zinc Co.’s planned $7.4 billion smelter in Tennessee that will supply critical minerals essential for chip-making, defense and aerospace.

Korea Zinc — one of the world’s largest processors of the metal — said Monday it will establish a foreign joint venture called Crucible JV LLC to oversee the project. The venture will be comprised of Korea Zinc, the US government, and other unnamed investors, the company said.

One of those investors is JPMorgan, which also advised the company on the public-private partnership, according to a person familiar with ...