Steelmaker POSCO to buy lithium from Australian miner
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SOUTH Korean steelmaker POSCO on Tuesday said it had agreed to buy up to 240,000 tonnes of lithium concentrate per year from Australian miner Pilbara Minerals, using the commodity to help supply producers of electric vehicle batteries.
As part of the deal, the Australian unit of POSCO will acquire a 4.75 per cent stake in Pilbara for A$79.6 million (S$82.3 million).
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