Posco completes second lithium hydroxide plant

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Posco completes second lithium hydroxide plant

Published: 29 Nov. 2024, 15:36

JIN EUN-SOO
[email protected]

Korean Prime Minister Han Duck-soo, fifth from left, Posco Group Chairman Chang In-hwa, fourth from left, at the ceremony event for vompletion of Posco-Pilbara's second lithium factory in South Jeolla. [POSCO]

Posco-Pilbara Lithium Solution completed the construction of its second lithium hydroxide plant in South Jeolla on Friday, the joint venture between Korean steelmaker Posco and Australian lithium mining company said.

Adding to its first plant, established last year, the company can now produce 43,000 tons of lithium per year, which is able to manufacture batteries for 1 million EVs.

The joint venture, established in 2021, imports raw materials of lithium from Pilbara Minerals in Australia and processes them into lithium hydroxide domestically.

The completion ceremony on Friday, was attended by Korean Prime Minister Han Duck-soo and Gov. Kim Young-rok of South Jeolla among others.

“The construction of the latest lithium factory will serve as a significant turning point for Posco Group to advance as a leader in the global lithium industry,” Prime Minister Han said.

“The government will roll out full-fledged support for secondary battery companies in terms of infrastructure, research and development, tax subsidies and finances.”

BY JIN EUN-SOO [[email protected]]