Ann: Black Rock Signs Offtake and Investment MOU with POSCO, page-25

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POSCO International, a global trading company based in South Korea, has signed two Memorandums of Understanding (MoUs) in Madagascar and Tanzania with the aim of securing around 90,000 tonnes of advanced graphite per year. The agreements mark a significant step in the company’s efforts to establish a stable supply chain for critical mineral resources.Securing Graphite Supply in MadagascarThe first MoU was signed in Antananarivo, Madagascar, where POSCO International entered into a business agreement with NextSource, a Canadian mining company, for joint investment in the Molo Graphite Mine. Under the agreement, POSCO International will be able to acquire either impression graphite or spherical graphite produced in the Molo mine for a period of 10 years. This secured supply will be used to support the operations of POSCO Future M, a subsidiary specializing in the production of secondary batteries.The Molo mine, owned by NextSource, is highly regarded as one of the top tier mines in Madagascar, boasting approximately 2.2 million tonnes of graphite reserves. With a production capacity of 17,000 tons per year and plans to increase production to over 150,000 tons per year by 2026, the Molo mine holds great potential for continuous and reliable graphite supply.Expanding Graphite Purchase Rights in TanzaniaThe second MoU was signed in Dar es Salaam, Tanzania, where POSCO International expressed its intention to participate in the capital increase of Black Rock Mining, an Australian company with the second largest natural graphite mine in the world. By increasing its investment in Black Rock Mining, POSCO International aims to negotiate the expansion of its natural graphite purchase rights to 60,000 tons per year.Furthermore, last May, POSCO International signed a contract with Black Rock Mining to invest $10 million in the Mahengi mine, securing the supply of 750,000 tons of natural graphite over a span of 25 years.Laying the Foundation for a Stable Supply ChainAs the demand for mineral resources grows, particularly for the production of secondary batteries, POSCO International believes these two MoUs will enable the company to secure approximately 90,000 tons of impression graphite per year, thus establishing a solid foundation for a reliable supply chain. This is of particular significance as non-Chinese graphite supply is expected to be crucial for the production of anode materials for North America from 2025 due to the US Inflation Reduction Act (IRA).POSCO International’s strategy is to actively secure various raw materials for secondary batteries, including waste batteries, copper foil, lithium, and now graphite, utilizing its extensive global network comprising over 100 partners. The company’s experience in the global non-ferrous metal business, accumulated over the past 25 years, has positioned it as a trusted and reliable player in securing critical mineral resources.In conclusion, these recent agreements mark a significant milestone for POSCO International in its pursuit to establish a stable supply chain for advanced graphite. By securing significant graphite reserves in Madagascar and expanding its graphite purchase rights in Tanzania, the company is well-positioned to meet the growing demand for mineral resources, particularly in the production of secondary batteries.Copyright © Energy Daily. Unauthorized reproduction and redistribution prohibited.Two MoUs signed in Madagascar and Tanzania… Plans to secure around 90,000 tonnes of advanced graphite per year in AfricaInternational Vice Chairman of Posco Jeong Tak, Ambassador of Madagascar Mab Yong-ho, Secretary General of the Busan World Expo Hosting Committee Yoon Sang-jik, Minister of Mineral Resources of Madagascar Olivier Herrindrainy Lakotomalala, Minister of Mineral Resources of Madagascar Rantosoa Lakotomalala Chairman of the Economic Development Council of Madagascar, Craig Mae Main Executive Officer Sherba NextSource, eco-friendly raw material business manager Yu Sam Posco International (clockwise from left in back row) signing a business agreement with POSCO International for joint investment in Next Source’s ‘Molo’ graphite mine , a Canadian mining company.[에너지데일리 변국영 기자] POSCO International takes full advantage of its rich overseas network to serve as a platform for the procurement of secondary battery materials.POSCO International visited Madagascar and Tanzania from the 28th of last month to the 2nd of last month and signed two MOUs on the establishment of a graphite supply chain, achieving meaningful results in securing mineral resources.The first Memorandum of Understanding to secure graphite was signed on the 28th of last month in Antananarivo, Madagascar. POSCO International signed a business agreement with NextSource, a Canadian mining company, for a joint investment in Molo Graphite Mine.With this agreement, POSCO International expects to be able to acquire impression graphite (30,000 tons per year) or spherical graphite (15,000 tons per year) produced in the Molo mine for 10 years. It is intended to supply the safe graphite to POSCO Future M, a secondary battery business company within the group.The Molo mine, owned by NextSource, is appraised as one of the top tier mines in Madagascar, with approximately 2.2 million tonnes of graphite reserves. In February, a production system with an annual capacity of 17,000 tons was established and commercial operation began, and from 2026, it is possible to produce more than 150,000 tons of impression graphite per year.Then, on the 1st, the second MOU was signed in Dar es Salaam, Tanzania, attended by Byung-Hwi Kim, head of eco-friendly headquarters at POSCO International, Greg Wheeler, chief commercial officer of Black Rock Mining, and Alimiya Osman, CEO of Munge Farugraphite, among others. Through this, POSCO International intends to participate in the capital increase of Black Rock Mining in Australia and negotiate the expansion of natural graphite purchase rights to 60,000 tons per year.Black Rock Mining Australia has the second largest natural graphite mine in the world. Last May, POSCO International also signed a contract with Black Rock Mining to invest $10 million in the Mahengi mine to supply 750,000 tons of natural graphite at a rate of about 30,000 tons per year for 25 years.As the importance of securing mineral resources has increased recently, POSCO International expects that the two MOUs signed this time will be able to secure approximately 90,000 tons of impression graphite per year, laying the foundation for establishing a stable supply chain .It is also meaningful as it has secured raw materials that can immediately respond to a situation where non-Chinese graphite supply is essential for the supply of anode materials to North America from 2025 due to the US Inflation Reduction Act (IRA).POSCO International’s strategy is to actively secure raw materials for secondary batteries, such as waste batteries, copper foil, and lithium, as well as graphite, by using its 100-plus global network.An official from POSCO International said, “I was able to jump confidently into building a secondary battery material supply chain as a result of my experience in the global non-ferrous metal business accumulated over the past 25 years.” We will become an axis and contribute to the security of national resources.