Posco Acquires Lithium Project in Argentina for $65 Million
Posco has purchased the Hombre Muerto Norte project in Argentina for $65 million, enhancing its lithium resource portfolio. This acquisition supports Posco's strategy amid rising global demand for battery production.
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South Korea's Posco has acquired the Hombre Muerto Norte project in Salta, Argentina, for $65 million, adding to its lithium resources. The project is capable of producing up to 15,600 tons per year of lithium carbonate equivalent.
This acquisition follows Posco's existing mining rights in the Salar del Hombre Muerto since 2018 and complements its Sal de Oro project, which aims for a $633 million investment. Argentina ranks third in global lithium reserves, highlighting its strategic importance in the lithium market. The government's RIGI program is expected to attract further foreign investments in the sector.
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