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Mineral Assets (ASX:MIN,OTCQB:MALRF) and Korean metal producer POSCO Holdings (NYSE:PKX,KRX:005490) have executed a binding settlement, making a lithium three way partnership.
In keeping with the launch, the brand new entity will maintain 50 % of Mineral Assets’ current possession within the Wodgina and Mt Marion lithium mines in Western Australia.
POSCO will make a money fee of US$765 million to amass a 30 % stake within the JV. The remaining 70 % might be held by MinRes.
The main target of the JV is to strengthen Wodgina and Mt Marion’s capability to participate within the rising demand for Australian lithium, given their Tier 1 standing and vital growth potential.
By supporting the event of recent international conversion capability, this partnership will play an essential function in diversifying the worldwide lithium provide chain and strengthen bilateral ties between Australia and Korea in vital minerals,” stated MinRes Chair Malcolm Bundey.
Wodgina is situated roughly 120 kilometres south of Port Hedland in Pilbara.
Its three processing trains on the web site have a complete annual manufacturing capability of roughly 820,000 tonnes of spodumene focus at a grade of 5.5 % lithium oxide.
Mt Marion is collectively owned by MinRes and one of many world’s largest lithium hydroxide producers, Jiangxi Ganfeng Lithium, the place each events maintain 50 % equally.
Positioned 40 kilometres southwest of Kalgoorlie within the Goldfields area, Mt Marion’s mining actions embrace a spodumene focus processing plant with an annual manufacturing capability of 600,000 tonnes (SC6 equal).
“(Each mines) are excessive‑high quality belongings with confirmed scale, able to sustaining our enterprise for many years to come back,” commented POSCO CEO Hwa Chang.
“We are going to mix POSCO’s downstream experience with MinRes’ mining functionality to drive the sustainable development of the power supplies trade and contribute to the worldwide transition towards eco-friendly mobility.”
The businesses maintain an current partnership with the Onslow Iron three way partnership, with Onslow Iron having efficiently ramped as much as nameplate capability.
Onslow Iron additionally commenced manufacturing at a brand new hub in the direction of the tip of October.
Topic to regulatory approvals, completion of MinRes and POSCO’s transaction is anticipated within the first half of 2026.
Don’t neglect to comply with us @INN_Australia for real-time information updates!
Securities Disclosure: I, Gabrielle de la Cruz, maintain no direct funding curiosity in any firm talked about on this article.
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