Lithium South Receives $62 Million Acquisition Offer from POSCO for Argentine Salt Flat Assets

Lithium South, a Canadian lithium development company, announced on Wednesday that it had received a $62 million cash acquisition offer from South Korea's POSCO for its exploration asset portfolio in the Hombre Muerto salt flat in Argentina.

The non-binding offer is subject to several conditions, including a 60-day due diligence period and a subsequent 60-day negotiation period for the final agreement. The company's core asset is the wholly-owned Hombre Muerto North (HMN) project, which includes nine mining concessions (with a total area of 56.9 square kilometers) and the right of first refusal for adjacent land plots totaling 55.5 square kilometers.