Sun Metals Zinc Refinery has announced details of a vital investment partnership between the United States Government and Sun Metals parent company Korea Zinc, a deal set to deliver one of the world’s most advanced critical minerals processing facilities.
To be revealed at today’s Townsville Enterprises 2026 Mining and Manufacturing Forum, the integrated copper, zinc, lead facility will produce 11 critical minerals and sulphuric acid – a key input to Queensland’s phosphate production.
As the world’s leading zinc processor, Korea Zinc operates major processing facilities in Seoul and Tennessee. The proposed partnership is set to replicate the scale of its US operations in Australia while also leveraging strategic government and industry relationships across South Korea and the United States.
The investment into North and North West Queensland’s refining and smelting capability comes at a crucial time, with the potential to revitalise the industry after more than a decade of calls from community and business leaders to secure Australia’s sovereign industrial capability.
Townsville Enterprise CEO Claudia Brumme said the investment into the region shows North Queensland’s growing role in securing Australia’s industrial and manufacturing future.
“Sun Metals has been a pillar of Townsville’s economy for nearly 30-years and they have become one of the world’s leading processors of critical minerals,” Ms Brumme said.
“This type of investment has the potential to be transformational for North Queensland and Australia, positioning our region at the forefront of the next generation of industrial growth and further reinforcing our role in securing future supply chains.”
“The forum will also hear from international and national leaders about the importance of developing secure and sustainable critical minerals supply chains.”
Korea Zinc Chairman Yun Choi said the partnership highlighted the growing strategic importance of cooperation between Australia, South Korea and the United States in securing critical minerals supply chains.
“Korea Zinc’s investment partnership with the United States government is built on our world-leading technology for processing critical minerals, and our long proud history in Queensland creates a valuable opportunity for Australia and South Korean cooperation,” Mr Choi said.
Sun Metals CEO Ron Lee said the proposed investment represented a significant opportunity to strengthen Australia’s critical minerals processing capability while leveraging Korea Zinc’s global expertise and partnerships.
“The opportunity to develop a globally significant integrated mineral processing facility in North Queensland that aligns with our plants in Onsan (Korea) and Tennessee (USA), is real leverage for the Sun Metals operations, however it requires strong government collaboration as we have experienced in the US,” Mr Lee said.
Townsville Mayor Cr Nick Dametto said it’s great to see projects like this strengthening the region’s existing manufacturing capability.
“Manufacturing is the backbone of North Queensland’s economy, with nearly one in every six dollars generated in our regional economy coming from manufacturing activity,” Cr Dametto said.
“That is why projects like this are so important. They protect and grow our sovereign industrial capability, support thousands of local jobs.”
In a speech to be shown at the forum, United States Consul General Jeremy Cornforth said the US government is committed to creating a sustainable and stable market for critical minerals.
“The US-Australian alliance has been a strong one for many decades and in this particular area, Australia has enormous ways to contribute,” Mr Cornforth said.
“Of course, it has a long history of mining expertise and vast mineral resources. On the US side, we’re trying to bring capital markets, our industrial capability, and our innovation.”
“The goal is to reduce risk and move projects more quickly from feasibility to actual production, and we have made a lot of progress in that department, especially in Queensland.”
VisIR CEO Joseph O’Brien said Townsville was uniquely positioned to become a globally significant hub for critical minerals processing and advanced manufacturing.
“From a technology and national security perspective there is no more important opportunity in critical minerals for Australia than to cooperate with South Korea and the United States, and Sun Metals provides that opportunity for Townsville,” Mr O’Brien said.