11/04/2022 - 16:24

Pilbara, POSCO venture on track

11/04/2022 - 16:24

Bookmark

Save articles for future reference.

Pilbara Minerals and joint venture partner POSCO have met key conditions needed to build a lithium processing plant in South Korea.

Pilbara, POSCO venture on track
Pilbara Minerals managing director Ken Brinsden. Photo: Matt Jelonek/Business News

Pilbara Minerals and joint venture partner POSCO have met key conditions needed to build a lithium processing plant in South Korea.

Notably, this includes a detailed construction and 18 month ramp up budget provided by the joint venture for the 43 kilo tonnes per annum lithium conversion facility in the Gwanyang province.

Engineering work is underway and major civil and construction works are set to start in the June quarter.

Commissioning of the facility is expected from late 2023.

Pilbara Minerals managing director Ken Brinsden commented on the update.

“Pilbara’s Mineral’s longstanding relationship with POSCO continues to go from strength to strength and we are pleased to partner with them to grow lithium chemicals production to support the massive demand growth that is building around the globe,” he said.

“With commissioning late 2023, this joint venture places both Pilbara Mineral and POSCO in a very strong position to participate as one of the few near term lithium fine chemicals producers with underwritten raw materials supply that will emerge in the coming two years.”

Pilbara Minerals closed the day down by 3.75 per cent trading at $3.08.

 

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options