SEOUL, Dec 31 (Reuters) – Korea Zinc said on Wednesday it has revised its planned share issuance to 2.833 trillion won ($1.94 billion) from the previously announced 2.85 trillion won, citing the finalised issuance price per share and changes in currency exchange rates.
The non-ferrous metal smelter said in a regulatory filing that the $1.94 billion would fund the establishment of a non-ferrous metal smelter for the production of core minerals such as antimony and gallium in the U.S. state of Tennessee.
The project aims to support U.S. efforts to reduce dependence on China for materials critical to industries such as electronics and weapons manufacturing.
($1 = 1,460.60 won)
(Reporting by Joyce Lee; Editing by Jacqueline Wong)
