Posco moves forward with acquisition of Argentine lithium mine

South Korean steel and chemicals conglomerate Posco Group is moving ahead with its proposed acquisition of a major lithium mine in Argentina’s Hombre Muerto salt lake, owned by Canadian mining firm Lithium South Development Corporation. The news comes shortly after Posco agreed to invest US$ 765 million in a 30% stake in a joint venture with Australian mining company Mineral Resources Ltd, securing the supply of 270,000 tons of lithium concentrate annually to support its expanding battery materials busine ...