- POSCO eyes 30% stake in Australian subsidiary of Mineral Resources
- India relies on imported lithium for its growing EV, battery industries
POSCO Holdings has announced a KRW 1.1 trillion (US $765 million) investment to secure long-term lithium resources in Australia and Argentina, strengthening its position in the global battery-materials supply chain.
In Australia, POSCO will acquire a 30% stake in a Mineral Resources subsidiary, granting access to 270,000 tonnes (t) of lithium concentrate annually from the Wodgina and Mt. Marion mines — enough to produce 37,000 t of lithium hydroxide, supporting nearly 860,000 EVs.
In Argentina, the company is purchasing Lithium South’s local subsidiary for US $65 million, securing rights over 11,000 hectares at the high-grade Hombre Muerto brine deposit, which contains an estimated 1.58 mnt of lithium carbonate equivalent (LCE).
This investment aligns with POSCO’s strategy to become a top global lithium supplier, ensuring raw material security and diversifying supply sources. It also supports the company’s “2 Core + New Engine” model, which prioritises steel and secondary battery materials while expanding into new growth sectors.
Impact on India
POSCO’s expanded lithium access is significant for India, which heavily depends on imported lithium for its growing EV and battery industries. Increased global supply and diversification may help stabilise lithium prices, benefiting Indian cell manufacturers and EV producers, who currently face cost pressures. This aligns with India’s broader goals under the National Critical Mineral Mission and PLI schemes, which aim to strengthen domestic battery manufacturing and reduce strategic vulnerability. As POSCO’s capacity grows, India may gain more reliable, less volatile sourcing options, supporting its rapid transition toward clean mobility and energy-storage systems.
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