Latest news with #LithiumExtraction
Yahoo
3 days ago
- Business
- Yahoo
POSCO Plans to Build Pilot Plant in Utah, Eyes Lithium Production
Posco Holdings PKX has announced plans to develop a trial lithium processing plant in the United States in collaboration with Australia's Anson Resources. This is in sync with the company's efforts to expand its electric vehicle (EV) battery raw materials supply chain. This is the first time a South Korean company has taken steps to directly produce lithium in North America, enabling it to lessen its reliance on Chinese suppliers in order to meet the new import limits imposed by the United two companies have signed a memorandum of understanding (MoU) to construct the new pilot plant in Green River City, UT, next year. This plant will help determine the viability of Posco's Direct Lithium Extraction (DLE) technology for large-scale commercial production. The method uses natural evaporation to recover lithium from vast, low-concentration brine lakes. Anson Resources has mining rights to a lithium brine location in Utah. Posco's collaboration with Anson Resources will give it an edge over domestic rivals, such as LG Chem, which has supply arrangements with local lithium producers to supply the U.S. market rather than producing lithium themselves. Posco aims to market the DLE technology it developed in 2016, following the successful operation of the demonstration plant in the United States. The company intends to use this technology to invest in and commercialize undeveloped lithium brine lakes across North America. Following Bolivia and Argentina, the United States possesses one of the world's greatest lithium reserves, which are contained in vast brine the past year, shares of PKX have lost 19.8% compared with the industry's 25% decline. Image Source: Zacks Investment Research PKX currently carries a Zacks Rank #3 (Hold).Better-ranked stocks in the basic materials space include Carpenter Technology Corporation CRS, Agnico Eagle Mines AEM and Avino Silver & Gold Mines Ltd. Technology currently carries a Zacks Rank #2 (Buy). CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 11.1%. The company's shares have soared 157.7% in the past year. You can see the complete list of today's Zacks #1 Rank stocks Zacks Consensus Estimate for Agnico Eagle's current-year earnings is pegged at $1.61 per share. AEM, carrying a Zacks Rank #1 (Strong Buy), surpassed the Zacks Consensus Estimate in each of the trailing four quarters, with the average earnings surprise being 12.3%. The company's shares have rallied 74.4% in the past Silver, which currently carries a Zacks Rank #1, beat the consensus estimate in each of the trailing four quarters. In this time frame, it delivered an earnings surprise of roughly 104.1%, on average. ASM's shares have rallied 271.5% in the past year. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report POSCO (PKX) : Free Stock Analysis Report Carpenter Technology Corporation (CRS) : Free Stock Analysis Report Agnico Eagle Mines Limited (AEM) : Free Stock Analysis Report Avino Silver (ASM) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Korea Herald
6 days ago
- Business
- 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.
