# 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.

- Type: Acquisition
- Announced: 2018-02-27
- Where: Australia
- Value: $62.5M
- Status: announced
- Products: lithium concentrate, lithium products
- Sectors: [Mining Equipment](https://endata.com/sectors/mining-equipment.md)

## Companies

- [POSCO](https://endata.com/companies/8856.md) (acquirer)
- [Pilbara Minerals](https://endata.com/companies/21514.md) (target)

## Sources

- [pulse.mk.co.kr](https://pulse.mk.co.kr/news/english/8210887), 2018-02-28: "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."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.