Latest news with #POSCOHoldings
Korea Herald
a day ago
- Automotive
- Korea Herald
Seoul shares open lower amid tariff negotiations
Seoul shares opened lower Tuesday, bucking overnight gains on Wall Street, as investors remained cautious over US President Donald Trump's latest tariff threats. The benchmark Korea Composite Stock Price Index fell 12.34 points, or 0.39 percent, to 3,189.69 in the first 15 minutes of trading. Trump has notified key US trading partners of new tariff rates set to take effect Aug. 1 unless they offer improved terms in ongoing negotiations. Overnight, the Dow Jones Industrial Average rose 0.2 percent to 44,459.65, while the tech-savvy Nasdaq composite climbed 0.27 percent to 20,640.33. In Seoul, large-cap stocks were mixed. Top carmaker Hyundai Motor fell 1.6 percent, leading shipbuilder HD Hyundai declined 0.43 percent, and leading steelmaker POSCO Holdings shed 0.93 percent. Chipmaker SK hynix dropped 3 percent, LG Chem lost 0.73 percent, and No. 2 battery maker Samsung SDI declined 0.77 percent. Among gainers, market bellwether Samsung Electronics rose 0.64 percent, and leading battery maker LG Energy Solution climbed 0.6 percent. State-run utility Korea Electric Power Corp. jumped 4.06 percent, and top wireless carrier SK Telecom edged up 0.09 percent. The local currency was trading at 1,384.8 won against the US dollar at 9:15 a.m., down 3.6 won from the previous session. (Yonhap)
Associated Press
30-06-2025
- Business
- Associated Press
ASN: Anson Signs MoU with POSCO Holdings for DLE Demonstration Plant Development at Green River
Anson Resources and POSCO Holdings have signed a non-binding MoU to develop a DLE Demonstration Plant at Green River Lithium Project NEWPORT BEACH, CA / ACCESS Newswire / June 29, 2025 / Anson Resources Limited (ASX:ASN) ('Anson' or the 'Company') is pleased to announce that it has executed a non-binding Memorandum of Understanding ('MoU') with POSCO Holdings Inc. (KRX: 005490, NYSE: PKX) to collaborate on the construction of a demonstration plant at the Green River Lithium Project ('Project') in the Paradox Basin, southern Utah, USA. The parties will also explore future partnership opportunities at the Project. POSCO Holdings will make an investment decision on the demonstration plant at the Green River Lithium Project through the finalisation of its due diligence and internal review, expected to be completed by December 2025. The two companies will also explore potential business cooperation opportunities, including joint investment in the Project, contingent on positive feasibility outcomes. The Green River Lithium Project, owned by Anson Resources's subsidiary, Blackstone Minerals NV LLC, offers compelling advantages, including low forecast production costs, ready access to existing infrastructure and a skilled local workforce. The Project sits in a strategic location within the United States to support the growing demand for domestically sourced EV battery materials. POSCO Holdings has been conducting long-term R&D and investment reviews on next-generation lithium resources such as brine and geothermal brine for several years, utilising its comprehensive experience in lithium extraction and operational know-how, paired with its deep experience in chemicals trading and distribution. The demonstration plant is a scaled-up version of a pilot plant designed to validate a new industrial process at a larger, commercially relevant scale before full-scale construction. The Demonstration Plant will operate on a continuous process basis to closely resemble that of the anticipated future commercial plant as well as generating significant quantities of product. Executive Commentary Executive Chairman & CEO, Mr. Bruce Richardson commented: 'This MoU agreement with POSCO Holdings represents another significant milestone in our commercialisation strategy and underscores the progress Anson has made in de-risking the Green River Lithium Project. The Project's ongoing progress continues to attract additional top-tier partners who are contributing to the establishment of Green River as a globally attractive asset. POSCO Holdings is a world-class chemicals producer with deep operational experience, and their interest further validates the quality and strategic potential of the Project. As the global supply chain for lithium shifts toward secure, domestic sources, Anson is uniquely positioned to support this demand from within the U.S., offering low-cost, high-purity lithium production. With forecast-leading production costs, strong local infrastructure, and a highly skilled workforce, the Green River Lithium Project is emerging as one of North America's most compelling lithium development opportunities.' POSCO Holdings spokesperson commented: 'This collaboration with Anson Resources represents a strategic opportunity for POSCO Holdings to strengthen our position in the North American lithium market. Through collaboration on the Green River Lithium project, we will verify the commercialization potential of DLE technology and its business feasibility in the United States. We believe our operational know-how, commercial expertise, combined with Anson's high-quality asset, can create significant value for both companies and contribute meaningfully to the US supply chain and manufacturing.' About POSCO Holdings POSCO Holdings Inc. (KRX: 005490) is a leading South Korean industrial group with strategic investments across steel, energy, and battery materials. POSCO Group is developing a global supply chain to support the transition EV and has invested in a total of 93,000 tonnes of lithium production annually in Argentina and South Korea. The company has made significant investments in both brine and hard-rock lithium resources across South America and Australia and is advancing proprietary Direct Lithium Extraction (DLE) technologies to accelerate low-carbon lithium production. This announcement has been authorized for release by the Executive Chairman and POSCO Holdings. About Anson Resources Ltd Anson Resources (ASX: ASN) is an ASX-listed mineral resources company with a portfolio of minerals projects in key demand-driven commodities. Its core assets are the Green River and Paradox Lithium Project in Utah, in the USA. Anson is focused on developing these assets into a significant lithium producing operations. The Company's goal is to create long-term shareholder value through the discovery, acquisition and development of natural resources that meet the demand of tomorrow's new energy and technology markets. For further information please contact: Bruce Richardson Executive Chairman and CEO E: [email protected] Ph: +61 7 3132 7990 Will Maze Head of Investor Relations E: [email protected] Ph: +61 7 3132 7990 SOURCE: Anson Resources press release
Business Recorder
02-06-2025
- Business
- Business Recorder
South Korean shares flat ahead of election; chipmakers counter losses in steelmakers
SEOUL: Round-up of South Korean financial markets: South Korean shares ended little changed on Monday, as gains in chipmakers offset losses in steelmakers, while investor focus was on the country's snap presidential election a day later. The benchmark KOSPI closed up 1.30 points, or 0.05%, at 2,698.97. Chipmaker Samsung Electronics rose 1.07% and peer SK Hynix gained 1.47%, after data showed exports of semiconductors jumped in May on robust demand for advanced memory chips. Still, South Korea's exports fell in May for the first time in four months, as shipments to the United States and China dropped on global trade conflict triggered by U.S. President Donald Trump's sweeping tariffs. Steelmaker POSCO Holdings shed 2.40% and Hyundai Steel dropped 2.66%, as Trump doubled tariffs on steel and aluminium imports to 50%. South Koreans will go to the polls in a snap election on Tuesday, voting for a president to replace Yoon Suk Yeol, who was ousted from office in April after his brief martial law attempt sent shockwaves through the country. 'There will be hopes for new policies after the election, but it is unlikely there will be huge moves without improvements in corporate earnings,' said Huh Jae-hwan, an analyst at Eugene Investment Securities. Among other index heavyweights, battery maker LG Energy Solution slid 0.52%, while Hyundai Motor and sister automaker Kia Corp were down 0.70% and 1.12%, respectively. Foreigners were net buyers of shares worth 123.9 billion won ($90.30 million). The won was quoted at 1,373.1 per dollar on the onshore settlement platform, 0.73% higher than its previous close at 1,383.1. The most liquid three-year Korean treasury bond yield fell by 1.9 basis points to 2.339%, while the benchmark 10-year yield fell by 0.1 basis point to 2.790%.
Time of India
13-05-2025
- Automotive
- Time of India
South Korea battery materials maker POSCO Future M to raise $775 mn via share issue
South Korean chemical and battery material maker, POSCO Future M , said on Tuesday it would issue new shares to raise around 1.1 trillion won ($775 million) to fund its expansion at home and abroad, including its joint venture factory with General Motors in Canada. Under the plan, the company said it will push ahead with investments in future growth despite "political risks" in Korea and the United States, saying U.S. tariffs and potential cuts in federal electric vehicle subsidies under the Trump administration threatened to slow down EV demand. POSCO Future M will spend 353 billion won on helping finance its cathode manufacturing factory with General Motors in Canada, which has been pushed back to 2026 amid cooling EV demand. Its parent POSCO Holdings said in a statement that it would acquire all of the new shares assigned to the company in proportion to its stake of 59.7per cent in POSCO Future M worth 525.6 billion won ($369.72 million). Separately, the company also said it would acquire new shares worth 328 billion won from its joint venture with Australia's Pilbara Minerals, which makes lithium hydroxide battery materials.
CNA
28-04-2025
- Business
- CNA
South Korean firms to increase Indonesia investments by $1.7 billion, minister says
JAKARTA :South Korean companies will increase their investment in Indonesia by $1.7 billion, Indonesian economic minister Airlangga Hartarto said on Monday after attending a meeting between a South Korean business association and President Prabowo Subianto. The planned increase is equal to more than 10 per cent of the $15.4 billion that Airlangga said South Korean firms had already invested in Southeast Asia's largest economy, said Airlangga. Prabowo's office said he met with more than a dozen South Korean companies that have invested in Indonesia, including holding company Lotte Corporation, steel firm POSCO Holdings, glass producer KCC Glass Corporation, and Hyundai Motor Group. POSCO and KCC Glass were among the firms that planned new investments, Airlangga said, without providing further said Lotte Chemical Corp's $3.9 billion large-scale petrochemical plant in Indonesia was expected to start operating by September or October this year. Indonesia is also in talks with South Korea's Poongsan Corporation to buy ammunition, he added.
