Korea Zinc Seeks $2 Billion Loan for US Critical Minerals Plant

Korea Zinc Co. is seeking a $2.35 billion loan to fund the construction of a US smelter, people familiar with the matter said, part of its efforts to help Washington boost its domestic manufacturing and metal-processing capacity.

JPMorgan Chase & Co. is the sole mandated lead arranger and underwriter of the five-year loan, the people said, who asked not to be identified discussing private matters. Talks with banks are ongoing and terms could still change, they added.