Posco Holdings Secures $765 Million Stake in Australian Lithium Mines
Posco Holdings has finalized a $765 million investment in Australian lithium mines through a partnership with Mineral Resources. This agreement enables Posco to acquire a 30% stake in a new holding company and ensures a supply of 30% of lithium concentrate from key mines, thereby enhancing its lithium value chain.
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Posco Holdings has committed approximately USD 765 million to acquire a 30% stake in a new holding company with Mineral Resources. This partnership grants Posco the rights to 30% of lithium concentrate produced from the Wodgina and Mt.
Marion mines in Western Australia, which have reserves of 6.2 million tons and 2.2 million tons respectively. The Wodgina mine features a concentrate grade of 5.5%. The investment aligns with Posco's strategy to solidify its lithium supply chain, from mining to production, ensuring stable dividend income. This collaboration may enhance global battery material supply stability.
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