Mineral Resources Sells Stake in Lithium Mines to Posco For $765 Million
By Rhiannon Hoyle
Mineral Resources said Wednesday it has agreed to sell part of its lithium business to Posco Holdings for $765 million, a move it says will help fund future growth and allow it to better respond to increasing demand for Australian lithium.
The miner said South Korea's Posco will acquire 30% of its operational lithium business under a new joint venture that will hold Mineral Resources's 50% stakes in the Wodgina and Mt Marion lithium mines in Western Australia.
It said it will continue to be the operator of both mines under existing agreements with its joint venture partners -- Albemarle at Wodgina and Jiangxi Ganfeng Lithium at Mt Marion.
Posco will receive spodumene concentrate in proportion to its 30% interest in the joint venture that will underpin its future investment in new downstream processing facilities, Mineral Resources said.
The agreement has been approved by directors of both Mineral Resources and Posco.
Mineral Resources said it expects the deal to be completed in the first half of 2026. "MinRes expects to use the proceeds to repay external debt, fortify its balance sheet and position the company for its next phase of growth," the company said.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
(END) Dow Jones Newswires
November 11, 2025 17:23 ET (22:23 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.The articles, information, and content displayed on this webpage may include materials prepared and provided by third parties. Such third-party content is offered for informational purposes only and is not endorsed, reviewed, or verified by Morningstar.
Morningstar makes no representations or warranties regarding the accuracy, completeness, timeliness, or reliability of any third-party content displayed on this site. The views and opinions expressed in third-party content are those of the respective authors and do not necessarily reflect the views of Morningstar, its affiliates, or employees.
Morningstar is not responsible for any errors, omissions, or delays in this content, nor for any actions taken in reliance thereon. Users are advised to exercise their own judgment and seek independent financial advice before making any decisions based on such content. The third-party providers of this content are not affiliated with Morningstar, and their inclusion on this site does not imply any form of partnership, agency, or endorsement.
Popular
4 Stocks to Buy Before They Rise Further
2 Undervalued Stocks to Buy Before They Rebound
The 10 Best Companies to Invest in Now
The 10 Best Dividend Stocks
United States