Posco to acquire 4.75% stake in Pilbara Minerals for $62.5M

South Korean steelmaker Posco agreed to acquire a 4.75% stake in Australian lithium miner Pilbara Minerals for $62.5 million and to buy up to 240,000 tons of lithium concentrate per year. Posco will use the lithium to produce 30,000 tons of lithium products annually starting in 2020.

“South Korea’s leading steelmaker Posco announced Tuesday it has agreed to acquire a 4.75 percent stake in Australian miner Pilbara Minerals for $62.5 million and buy up to 240,000 tons of lithium concentrate per year.”pulse.mk.co.kr

• 1 source
• pulse.mk.co.krKorea’s Posco to buy stake in Aussie lithium miner Pilbara - 매일경제 영문뉴스 펄스(Pulse)Feb 28, 2018

Summarized from public sources; check the original articles before acting on it.