MinRes and POSCO Holdings to form lithium partnership

Published: Nov 12, 2025 08:00

Save

Mineral Resources Limited (MinRes) has signed a binding agreement with POSCO Holdings to sell a 30% stake in MinRes’ operational lithium business through a newly incorporated joint venture, which will hold MinRes’ existing 50% ownership of the Wodgina and Mt Marion lithium mines. The deal values MinRes’ 50% stake in these mines at approximately US$3.9 billion, with POSCO paying US$765 million upfront for its 30% share. MinRes will retain 70% ownership and continue operating both mines under existing agreements with Albemarle (Wodgina) and Ganfeng Lithium (Mt Marion). POSCO will receive spodumene concentrate proportional to its stake, supporting future downstream processing investments. The partnership strengthens the mines’ position to meet rising global lithium demand, particularly for Korean and Western markets, and builds on MinRes’ prior collaboration with POSCO via the Onslow Iron joint venture. The agreement has board approval, with completion expected in H1 2026, pending regulatory and customary conditions. Proceeds from the deal will be used by MinRes to repay debt and fund growth.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

13 hours ago

Tender for Procurement of Quasi-First-Grade Coke Dry Quenching and Other Projects

13 hours ago

15 hours ago

[SMM Manganese Ore Weekly Review]Imported Ore Offers Decline, Demand Weak, Manganese Ore Fluctuates in Short Term

15 hours ago

16 hours ago

FinDreams Battery and Sichuan Meishan Xingmei Investment Group Officially Sign Framework Cooperation Agreement

On June 2, 2026, Yang Dezhi, Party Secretary and Chairman of Meishan Xingmei Investment Group, led a delegation and headed to Pingshan headquarters for a field trip and exchange, and officially signed a strategic cooperation agreement with FinDreams Battery. FinDreams Battery Deputy General Manager Zhao Tong, BYD Energy Storage and New-Type Battery Division General Manager Yin Xueqin, and other leaders attended the event and witnessed the signing ceremony. In the future, both parties will accelerate the implementation of the agreement, deepening cooperation with a focus on the co-construction of heavy truck fast charging and energy replenishment networks, zero-carbon park construction, power battery support, and hard carbon anode resource development.

16 hours ago