MinRes, POSCO sign binding deal for lithium partnership

Mineral Resources (MinRes) and POSCO Holdings have signed a binding agreement to form a lithium joint venture (JV) partnership. Under the deal, POSCO Holdings is set to acquire a 30% stake in MinRes’ operational lithium business. This agreement will see the newly formed incorporated JV hold MinRes’ existing 50% ownership of the Wodgina and Mt Marion lithium mines. POSCO Holdings will pay an upfront cash consideration of $765m (Won1.12tn) for its 30% interest in the JV, equivalent to an indirect 15% inte ...