POSCO Holdings Lithium Resource Acquisition in Australia and Argentina

awarded

POSCO Holdings is investing about 1.2172 trillion won to secure lithium resources in Australia and Argentina. The investment includes acquiring 30% equity in a new intermediate holding company established by Australian mining company Mineral Resources, amounting to about $765 million (approximately 1.1219 trillion won). This investment will secure 270,000 tons a year of lithium concentrate from the Wodgina and Mt. Marion mines in Western Australia, sufficient to produce 37,000 tons of lithium hydroxide for about 860,000 electric vehicles. Additionally, POSCO Holdings is investing $65 million (about 95.3 billion won) to acquire 100% equity in the Argentine subsidiary of LIS (Lithium South), which holds mining rights in the Hombre Muerto salt lake in Argentina, aiming to secure additional lithium resources and leverage existing infrastructure and know-how.