Could be good news for us!
Breaking news!!
I wonder why?
Who’s POSCO? that’s right they want a deal with with PLS and our great Aussie hard rock supply, ( hydroxide) not to mention partnering in a battery factory in South Korea.
Looking forward to news in September, get them cheap while you can IMO. DYOR.
SANTIAGO/SEOUL(Reuters) - South Korea’s POSCO has pulled out of a project to build battery parts in Chile, the Asian steelmaker said, little more than a year after winning guaranteed access to cheap lithium from top producer Albemarle.
POSCO, together with partner Samsung SDI, won a 2018 Chilean government tender to build a battery-parts factory in the country’s northern desert in exchange for a 27-year supply of low-cost lithium.
The problem, POSCO told Reuters, is that the project it proposed requires lithium hydroxide, a type of the metal increasingly favored by makers of batteries for electric vehicles (EV) but one not produced by Albemarle in Chile.
Albemarle in Chile primarily produces lithium carbonate, a variety of the metal that is widely used in smaller consumer electronics.
POSCO’s decision is the latest in a string of setbacks for Chile, which has struggled to modernize its lithium policies, boost output and develop a domestic battery industry, despite having the world’s largest supplies of the metal and rising global EV demand.
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