POSCO Secures 15 Million Tons of Lithium in Argentina

POSCO Holdings has secured a total of 15 million tons of lithium resources by finalizing the acquisition of 100% of the mining rights for a brine lake in the Ombre Muerto Norte region of Argentina. POSCO Holdings acquired the mining rights from Lithium South (LIS) for approximately 65 million USD (about 95 billion KRW).

The Ombre Muerto Norte brine lake acquired this time is a high-quality resource with estimated lithium reserves of approximately 1.58 million tons. Its adjacency to the lithium plant site currently under construction by POSCO Holdings enhances development and operational synergy.

Through this additional resource acquisition, POSCO Holdings has strengthened the foundation for expanding its mid-to-long term production capacity. It is also expecting approval within the year for the RIGI system, which offers Argentine government investment incentives.