POSCO Holdings invests KRW 1.1 trillion in Australian and Argentine lithium assets
- Paid ~USD 765 million (≈KRW 1.0 trillion) for a 30% stake in Mineral Resources' holding company to secure 270,000 t/year lithium concentrate from Wodgina and Mt. Marion.
- 270,000 t/year concentrate equates to roughly 37,000 t lithium hydroxide, sufficient for about 860,000 electric vehicles per year.
- Paid USD 65 million (≈KRW 95 billion) to acquire 100% of Lithium South's Argentine subsidiary, gaining adjacent high-grade Hombre Muerto brine mining rights and related land.
Investment overview
POSCO Holdings will invest a total of KRW 1.1 trillion to secure high‑quality lithium resources in Australia and Argentina as part of its secondary battery materials strategy, aiming to improve cost competitiveness and supply stability.
Australian asset acquisition
On November 11 the company agreed to acquire a 30% stake in an intermediate holding company of Mineral Resources for about USD 765 million (≈KRW 1 trillion), securing 270,000 t/year of lithium concentrate from the Wodgina and Mt. Marion mines in Western Australia.
Production impact and downstream plans
The secured 270,000 t/year of concentrate corresponds to roughly 37,000 t of lithium hydroxide (estimated) and about 860,000 EVs worth of capacity; POSCO plans mine management participation, dividend income and phased expansion into concentrate refining when market conditions warrant.
Argentine brine acquisition
On November 5 POSCO invested USD 65 million (≈KRW 95 billion) to buy 100% of Lithium South’s Argentine subsidiary, acquiring adjacent mining rights and land in the high‑grade Hombre Muerto salar to complement existing Argentine projects and infrastructure.
Strategic context
These deals align with the group’s refocused portfolio under its “2 Core + New Engine” organization, concentrating growth investments in steel and secondary battery materials to secure upstream raw materials.
Source: POSCO