Posted on 14 Nov 2025
South Korean conglomerate POSCO Holdings will acquire a 30% stake in Australian miner Mineral Resources’ (MinRes) lithium business for $765 million, Kallanish learns.
Under a binding agreement, the two companies will form a joint venture, with MinRes retaining a 70% interest in the new company, it said Wednesday. POSCO will have an indirect 15% interest in MinRes’ Wodgina and Mt Marion projects in Western Australia, and receive spodumene concentrate in proportion to its 30% interest in the JV.
MinRes will continue to operate both mines with its existing partners, Albemarle Corporation at Wodgina and Jiangxi Ganfeng Lithium at Mt Marion. The miner, which currently holds a 50% stake in the mines, plans to use the proceeds to repay external debt, fortify its balance sheet, and position the company for future growth.
“The first-of-its-kind investment by a major Korean company into Australian lithium is a milestone for the industry,” comments MinRes chairman Malcolm Bundey. “This partnership will play an important role in diversifying the global lithium supply chain and strengthen bilateral ties between Australia and Korea in critical minerals.”
The investment is a “testament to the long-term value of Wodgina and Mt Marion, and MinRes’ reputation as a mining operator,” says MinRes managing director Chris Ellison. “Together, we are committed to developing these Tier 1 operations to meet their full potential as two of the world’s best hard rock lithium assets.”
POSCO Holdings ceo In Hwa Chang adds, “We are committed to securing a stable, cost‑competitive supply of raw materials to enhance our long‑term competitiveness.”
MinRes expects the transaction to complete in the first half of 2026, subject to regulatory approvals. Both companies’ boards have approved the agreement.
The deal comes as MinRes posted an AUD 904m ($588m) loss in the 12 months to 30 June, amid a weak lithium price environment. Last year, it placed its Bald Hill mine in Western Australia under care and maintenance.
Source:Kallanish
