POSCO Holdings invests USD 765m for 30% stake in Australian lithium JV with Mineral Resources
- Investment of approximately USD 765 million to form a new intermediate holding with Mineral Resources.
- Acquires a 30% stake and the right to 30% of lithium concentrate produced by the joint venture (LithiumCo) from Wodgina and Mt. Marion.
- Wodgina: top‑5 global hard‑rock lithium mine, 5.5% concentrate grade, ~6.2 million tonnes LCE reserves; Mt. Marion: ~2.2 million tonnes reserves.
- POSCO’s objectives are dividend income, long‑term supply rights, downstream processing synergies and greater raw‑material self‑sufficiency.
Deal terms
POSCO Holdings signed a stake investment agreement worth approximately USD 765 million with Mineral Resources to establish a new intermediate holding company and acquire a 30% stake.
Supply rights and assets
The agreement secures POSCO the right to be supplied with 30% of the lithium concentrate produced by the joint venture (LithiumCo) from the Wodgina and Mt. Marion mines in Western Australia. Wodgina is cited as a top‑5 global hard‑rock lithium mine with a concentrate grade of 5.5% and reserves of about 6.2 million tonnes lithium carbonate equivalent (LCE); Mt. Marion holds approximately 2.2 million tonnes LCE.
Strategic rationale
POSCO plans to capture dividend income and solidify its lithium value chain from mining to material production by securing long‑term concentrate supply and leveraging downstream processing capabilities to strengthen competitiveness in rechargeable battery materials.
Partnership and next steps
Both companies framed the deal as the start of a long‑term partnership: Mineral Resources said it would complete remaining procedures including merger filings and focus on maximising the mines’ potential, while POSCO highlighted combining mining expertise with downstream technology to stabilise the global battery‑material supply chain.
Source: POSCO