Copyright Reuters
The new entity will hold MinRes' 50% ownership in the Wodgina and Mt Marion lithium mines, giving POSCO an indirect 15% interest in each of the projects. Sign up here. MinRes will remain the mines' operator under its existing agreements with the respective partners. POSCO will receive spodumene concentrate in proportion to its 30% interest, supporting its plans for new downstream processing facilities. MinRes said the partnership builds on their existing Onslow Iron JV and will help meet rising demand for Australian lithium. The deal, approved by both boards, is subject to regulatory clearances including Australia's Foreign Investment Review Board. Reporting by Rajasik Mukherjee; Editing by Sriraj Kalluvila
