Korea Zinc Trims Share Issuance to Fund US Smelter to $1.94 Billion

The logo of Korea Zinc during a press conference in Seoul, South Korea. Kim Hong-Ji/ReutersKorea Zinc said on Dec. 31 it has revised its planned share issuance to 2.833 trillion won ($1.94 billion) from the previously announced 2.85 trillion won ($1.96 billion), citing finalized pricing and changes in foreign exchange rates, according to its regulatory filing.The South Korean metals producer said the proceeds would be used to fund the establishment of a non-ferrous metal smelter in the U.S. state of Tennessee, focused on producing core minerals, including antimony and gallium.