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Pilbara minerals exercises option to continue progressing downstream JV with POSCO-2019 China(Guangzhou)Int’l Metal
;& Metallurgy Exhibition-metal exhibition
3/25/2019 金屬展-冶金展-鋼鐵展-steel expo-metal &metallurgy expo- |
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Australian lithium and tantalum producer, Pilbara Minerals Limited advised that the Company’s Board has conditionally exercised its option to enter into an incorporated joint venture with POSCO (for up to 30% participation) for the development of a downstream lithium chemical conversion facility in South Korea.
Pilbara Minerals’ Managing Director and CEO, Mr Ken Brinsden, said that “We are proud of the relationship we have developed with POSCO over the lost year, which has gone from strength to strength as we continue to work through the joint venture development process. It has been really pleasing to see the positive results generated by the due diligence work to date. The significant investment by POSCO into their PosLX technology has paid off and they have proven their ability to produce an industry leading, battery-ready lithium product through their innovative lithium purification process. For Pilbara Minerals to have secured a strong and technically capable partner like POSCO is no mean feat and gives us an exciting opportunity to partner with them to enter the battery grade and cathode material product supply market and become a fully vertically integrated global lithium raw materials company. The rapid growth in lithium chemicals consumption in South Korea cannot be underestimated and we believe this partnership positions Pilbara Minerals at the forefront of this emerging market, which is forecast by Benchmark Minerals Intelligence (October 2018) to position Korean battery manufacturers to supply around 25% of worldwide capacity by 2028.”
The facility, to be located in the Cwangyang Free Economic Zone in South Korea, would have up to 40ktpa LCE capacity and process spodumene from the Pilgangoora Lithium-Tantalum Project (Pilgangoora Project) using POSCO’s patented PosLX purification process
金屬展-冶金展-2019廣州巨浪國際金屬暨冶金工業(yè)展覽會-亞洲最大金屬冶金展-巨浪展覽-2019 China(Guangzhou)Int’l Metal & Metallurgy Exhibition-metal exhibition
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