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Posco to invest $750 million to secure lithium from Australia, Argentina

Published: 12 Nov. 2025, 12:58

A view of Posco Group’s lithium mine in Argentina [JOONGANG ILBO]

Korean steelmaker Posco Group said on Wednesday that it will invest 1.1 trillion won ($750 million) to secure lithium resources in Australia and Argentina to bolster its rechargeable battery materials business.

Posco will acquire a 30 percent stake in a subholding company, which will be established by Australian miner Mineral Resources (MinRes) for 1 trillion won, the company said in a press release.

The investment will allow Posco to secure 270,000 tons of lithium concentrate per year from the Wodgina and Mount Marion mines operated by MinRes in Western Australia. The supply is enough to produce 37,000 tons of lithium hydroxide, or about 860,000 EVs, it said.

“Posco Group views the energy materials business as a core growth driver alongside our steel operations, and we are committed to securing a stable, cost-competitive supply of raw materials to enhance our long-term competitiveness,” Posco Holdings Chairman and CEO Chang In-hwa said.

MinRes Independent Nonexecutive Chair Malcolm Bundey said the investment marks a milestone for the Australian lithium industry.

This first-of-its-kind investment by a major Korean company in Australian lithium will support the development of new global conversion capacity, help diversify the global lithium supply chain and strengthen bilateral ties between Australia and Korea in critical minerals, Bundey said.

In Argentina, Posco will acquire a 100 percent stake in the local subsidiary of Canadian resources developer Lithium South Development — which owns lithium mining rights at the Hombre Muerto salt lake — for 95 billion won, the company said.

Yonhap