As part of the deal, the Australian unit of POSCO will acquire a 4.75 percent stake in Pilbara for A$79.6 million ($62.49 million).
POSCO said in a statement that it planned to make about 30,000 tonnes of lithium products per year starting from 2020. It plans to supply these to firms including battery material manufacturing affiliate POSCO ES Materials and its joint venture with China’s Huayou Cobalt Co Ltd, as well as South Korean battery makers.
Key South Korean battery makers include LG Chem, Samsung SDI and SK Innovation
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South Korea's POSCO signs long-term deal to buy lithium from Australia's Pilbara, page-41
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