Korean Steel Giant POSCO buys 30% stake in WA Nickel mine from First Quantum.
Please google above for full story as HC wouldn't let me post the link.
Yeah, this is significant for miners of critical minerals like nickel. Shows that EV battery makers are very concerned about resource supply. Its been well documented that shortages of minerals needed for batteries will exponentially impact the industry from 2022 onwards. This is proof that battery makers want to own the resource to secure supply chain. Great news for anyone with the resource because it means partnerships, off take agreements, etc. with those in need of the resource will increase. Deal is subject to FIRB.
I posted this on the LSR thread as well given their interest in Nepean.
Really can't understand why anyone is selling shares in AOU etc. given what happening in this sector. DYOR.
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