Posco pursues ‘direct lithium production' in North America for 1st time
Posco Holdings announced on Monday plans to test the viability of directly producing lithium — a key material for electric vehicle batteries — highlighting the significance of establishing a supply chain in North America amid the ongoing pressure of decoupling from China.
In partnership with Anson Resources, Australia's natural resource developer, Posco will start the construction of a demonstration plant next year in Green River City, Utah. The facility will evaluate whether Posco's Direct Lithium Extraction technology is feasible for large-scale commercial production.
Unlike traditional lithium extraction methods that depend on the natural evaporation of brine in large ponds, DLE is a cost-effective, innovative process designed to selectively extract lithium from low-concentration brine lakes.
The project marks the first time a South Korean company has taken steps toward directly producing lithium in North America. In contrast, Posco's domestic rivals, including LG Chem, have primarily secured supply agreements with US-based lithium producers rather than pursuing local production.
Earlier Monday, the two companies signed a memorandum of understanding under which Anson Resources will provide the raw materials for lithium and the construction site, where it holds mining rights for lithium brine.
While the additional details of the project, including its timeline and investment volume, remain undisclosed, Posco stated: 'By successfully operating the demonstration plant in the US, we aim to commercialize the DLE technology we have developed since 2016.
The company intends to leverage this technology for investment and commercialization of undeveloped lithium brine lakes across North America.'
According to World Population Review, the US ranked third in the world for lithium deposits in 2023, behind Bolivia and Argentina.
This initiative is in line with the company's focus to secure additional lithium resources outside China, which dominates the global lithium hydroxide market, under Posco Holdings CEO Chang In-hwa's '2 Core + New Engine' strategy, referring to focusing on its core steel and battery materials businesses, while also developing new growth engines.
Meanwhile, Posco Holdings has secured an annual production capacity of 68,000 metric tons of lithium hydroxide, enough to manufacture batteries for approximately 1.6 million EVs. This includes 25,000 tons from its brine lithium plant in Argentina and 43,000 tons from its ore lithium plant in the Yulchon Industrial Complex in South Jeolla Province.
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Korea Herald
29 minutes ago
- Korea Herald
Posco pursues ‘direct lithium extraction' in North America for 1st time
Posco Holdings announced on Monday plans to test the viability of directly extracting lithium — a key material for electric vehicle batteries — highlighting the significance of establishing a supply chain in North America amid the ongoing pressure of decoupling from China. In partnership with Anson Resources, Australia's natural resource developer, Posco will start the construction of a demonstration plant next year in Green River City, Utah. The facility will evaluate whether Posco's Direct Lithium Extraction technology is feasible for large-scale commercial production. Unlike traditional lithium extraction methods that depend on the natural evaporation of brine in large ponds, DLE is a cost-effective, innovative process designed to selectively extract lithium from low-concentration brine lakes. The project marks the first time a South Korean company has taken steps toward directly producing lithium in North America. In contrast, Posco's domestic rivals, including LG Chem, have primarily secured supply agreements with US-based lithium producers rather than pursuing local production. Earlier Monday, the two companies signed a memorandum of understanding under which Anson Resources will provide the raw materials for lithium and the construction site, where it holds mining rights for lithium brine. While the additional details of the project, including its timeline and investment volume, remain undisclosed, Posco stated: 'By successfully operating the demonstration plant in the US, we aim to commercialize the DLE technology we have developed since 2016. The company intends to leverage this technology for investment and commercialization of undeveloped lithium brine lakes across North America.' According to World Population Review, the US ranked third in the world for lithium deposits in 2023, behind Bolivia and Argentina. This initiative is in line with the company's focus to secure additional lithium resources outside China, which dominates the global lithium hydroxide market, under Posco Holdings CEO Chang In-hwa's '2 Core + New Engine' strategy, referring to focusing on its core steel and battery materials businesses, while also developing new growth engines. Meanwhile, Posco Holdings has secured an annual production capacity of 68,000 metric tons of lithium hydroxide, enough to manufacture batteries for approximately 1.6 million EVs. This includes 25,000 tons from its brine lithium plant in Argentina and 43,000 tons from its ore lithium plant in the Yulchon Industrial Complex in South Jeolla Province.
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