Posco Holdings Shares Rise After Lithium Investment Deal in Australia
By Kwanwoo Jun
Posco Holdings' shares rose after the South Korean steel giant announced a lithium business investment of about $765 million in Australia.
The company's stock rose as much as 6.6% to 323,000 won, equivalent to $222.11, in early Wednesday trading, on course for its largest daily percentage gain in more than four months, outperforming the benchmark Kospi's 0.8% gain.
The stock advanced after Posco Holdings, parent of battery-material supplier Posco Future M, confirmed in a regulatory filing that it had agreed to buy 30% of the lithium business of Australia's Mineral Resources for 1.112 trillion won.
Posco will secure the 30% stake in its operational lithium business under a new joint venture that will hold Mineral Resources' 50% stake each in the Wodgina and Mt Marion lithium mines in Western Australia, Mineral Resources said in a statement.
Posco will receive spodumene concentrate, an essential source of lithium, in proportion to its stake in the joint venture that will underpin its future investment in new downstream processing facilities.
Mineral Resources expects the deal with Posco, which has been approved by the directors of both companies, to be completed in the first half of 2026.
Write to Kwanwoo Jun at kwanwoo.jun@wsj.com
(END) Dow Jones Newswires
November 11, 2025 23:32 ET (04:32 GMT)
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