JPMorgan advised on, financed $7.4B zinc mining deal, WSJ reports

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.