[Alpha Biz= Reporter Kim Jisun] POSCO Holdings is partnering with Australian mining company Hancock to establish a lithium plant. The two companies have agreed to secure a lithium production capacity of 30,000 tons through the new plant.

On the 10th, POSCO Holdings announced that it had signed a Memorandum of Understanding (MOU) with Hancock for lithium business cooperation. After considering several potential locations, including South Korea, the companies have agreed to proceed with the construction of the plant. Details, such as investment amounts, will be further clarified in the future.

Hancock is a mining-focused company headquartered in Perth, Western Australia. POSCO Holdings has been strengthening its value chain for secondary battery materials, including lithium mining, lithium hydroxide, cathode materials, and recycling, and believes that strengthening its cooperation with Hancock will play a key role in this effort.

The two companies have a long history of collaboration. In 2011, POSCO Group invested in Hancock’s Roy Hill iron ore mine and secured a 12.5% stake. In 2022, POSCO International, in partnership with Hancock, jointly acquired the Australian natural gas company Senex Energy.

 

 

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