JPMorgan (JPM) advised on and financed a $7.4B deal for Korea Zinc to build the largest zinc smelter in the U.S., aligning with the bank’s national security funding strategy, The Wall Street Journal’s Alexander Saeedy reports. The project includes about $2.2B in equity from the U.S. government and outside investors, with JPMorgan and the government providing the remaining costs through debt financing, according to the report. Once completed, the smelter will produce 11 metal products that are designated as “critical minerals” by the government.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on JPM:
- Nvidia Stock Worries Are ‘Overdone’ Given its ‘Immense’ Order Pipeline! Try This Options Trade for 65% Upside Potential, J.P. Morgan Says
- JPMorgan price target raised to $375 from $370 at TD Cowen
- JPMorgan launching MONY fund on Ethereum blockchain, WSJ reports
- JPMorgan (JPM) CEO Jamie Dimon Comments on the Fed Chair Candidates
- Why Michael Burry Sees Weakness in the U.S. Banking System