Red Metals has announced a $70 million investment to build its first copper refining and manufacturing facility in North Charleston, South Carolina. Notably, this appears to be the first new U.S. copper refining plant in more than 50 years.
The announcement was made on June 3, 2026, with details provided by the company and the South Carolina Governor’s office.
Facility and Operations
The 42,000-square-foot plant, located at 4500 Leeds Ave., will produce high-conductivity copper rod. It will use an integrated refining and manufacturing process.
Unlike traditional methods, the facility will convert domestic copper feedstocks directly into finished rod. As a result, it eliminates several intermediate steps.
Operations are expected to begin in Q4 2026. In turn, the project will create about 45 jobs, including engineers, operators, and production staff.
Funding and Leadership
The announcement coincided with a $10 million seed funding round. This round was led by Gigascale Capital, with participation from Future Ventures, MCJ, and JB Straubel.
In addition, Red Metals secured state and local incentives to support development.
According to CEO Jackson Switzer, the company aims to build a next-generation domestic copper supply chain. Meanwhile, its technical team includes experts from Redwood Materials, Boeing, Albemarle, and BASF.
A Different Approach to Copper Production
Importantly, the project differs from existing U.S. recycling operations. For example, Ames Copper Group processes scrap into finished products.
In contrast, Red Metals will refine primary copper feedstocks into high-conductivity rod. Therefore, it targets a different segment of the market.
At the same time, U.S. copper refining faces significant barriers. Historically, high capital costs and regulatory requirements have limited new projects.
In fact, the last approved U.S. smelter project dates back to 1971 and was never built. Today, only two smelters remain: Kennecott (Utah) and Miami (Arizona).
Technology and Efficiency
Red Metals’ process is a key differentiator. Specifically, it reduces the number of processing steps.
As a result, the system requires less energy and produces fewer emissions. This efficiency is critical given rising energy costs and strict environmental standards.
Market Timing and Demand
The project comes at a time of strong copper demand. Prices are near historic highs, driven by AI infrastructure, data centers, grid expansion, EVs, and defense.
Meanwhile, the U.S. produces about 1.5 million metric tons of recoverable copper annually. However, much of it is exported for refining. Consequently, this creates a supply chain gap.
Currently, the U.S. accounts for only about 3% of global refined copper production. As a result, copper was designated a critical mineral in November 2025.
Industry Impact
Red Metals aims to serve wire, cable, and electrical manufacturers. By producing domestic copper rod, the company could help reduce lead times and simplify supply chains.
This material is essential for wire and magnet wire production, which are key to the electrification economy.
Additional Context
The announcement is still recent, which explains limited industry coverage. So far, information has come from state releases, a Business Wire announcement, and company communications.
For comparison, Florence Copper began producing copper cathode in 2025. However, its focus differs, as Red Metals is targeting rod production, not cathode.
Looking ahead, the Q4 2026 startup means a new domestic supplier could enter the market within months. Therefore, industry stakeholders should monitor customer announcements and production milestones.
For more information, visit www.redmetals.com.
