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- POSCO to acquire 30% of MinRes’ operational lithium business
- Leading lithium specialists join forces
- Agreement follows binding agreement on key terms announced in November 2025
Mineral Resources (ASX: MIN) has executed a formal investment agreement and shareholders agreement with South Korea’s POSCO Holdings for the acquisition of 30% of MinRes’ operational lithium business under a new incorporated joint venture (LithCo).
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The joint venture will hold MinRes’ existing 50% ownership of the Wodgina and Mt Marion lithium mines.
The execution of the agreement follows the binding agreement on key terms announced on 12 November 2025 and represents a critical milestone in progressing this transaction to completion.
MD, Chris Ellison, said MinRes expects the transaction to complete in the first half of the 2027 financial year.
“We are pleased to execute the key transaction documents with POSCO Holdings, a critical step in progressing this transaction,” Mr Ellison said.
“We look forward to working with POSCO Holdings to finalise all outstanding matters and bring this to completion as soon as possible.
“This partnership continues to represent a landmark investment by a major Korean company into Australian lithium, and we remain committed to ensuring that Wodgina and Mt Marion reach their full potential as two of the world’s best hard rock lithium assets.”
POSCO has been the world’s most competitive steelmaker for 15 consecutive years, producing steel in 13 countries across the globe.
President, Ju-Tae Lee, welcomed the signing of the agreements.
“This partnership is highly meaningful in that it combines Mineral Resources’ mining and operational capabilities with POSCO Holdings’ downstream processing expertise, contributing to the stabilisation of the global battery materials supply chain,” he said.
“Based on the strong mutual trust between the two companies, we will continue to strengthen our long-term partnership in the global lithium market.”
On the lithium side POSCO Group has built a complete rechargeable battery materials value chain.
MinRes is a powerhouse in the Australian lithium sector after identifying the critical mineral as a target commodity more than a decade ago and has built a portfolio of world-class assets delivering long-term value.
It has ownership of Australian hard rock lithium mines complemented by strategic partnerships with global leaders in the production and supply of battery-grade lithium products.
MIN is steady at $63.38. Mkt cap $12.14B.
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