From lithium to rare earths: strengthening critical minerals technology competitiveness through Republic of Korea (ROK) –Australia research collaboration
POSCO Holdings signed a memorandum of understanding (MOU) on November 19 with the Australian Nuclear Science and Technology Organisation (ANSTO), Australia’s leading nuclear science and technology agency, to initiate a formal joint research cooperation on the processing and refining of critical minerals.
▲ POSCO Holdings signed an MOU with the Australian Nuclear Science and Technology Organisation (ANSTO) on November 19 for critical minerals technology development. From left: Ki-soo Kim, POSCO Group CTO, and Oleh Nakone, Group Executive at ANSTO.
Founded in 1953, ANSTO is Australia’s premier government research organisation, with world-class achievements in nuclear science, radiation medicine, materials science, and environmental and mineral resources research. In particular, the ANSTO Minerals business unit has distinguished itself in the development and commercialisation of several refining technologies for critical and strategic minerals such as lithium and rare earth elements, in addition to its support to critical minerals project development in Australia. ANSTO is one of the pillars of the Australian Critical Minerals R&D Hub, a collaboration between ANSTO, Geoscience Australia and CSIRO.
The signing ceremony was held via video conference connecting ROK and Sydney, Australia, and was attended by Ki-soo Kim, Head of POSCO N.EX.T Hub and POSCO Group CTO, Oleh Nakone, Group Executive of Nuclear Medicine and Commercial at ANSTO, and other key representatives from both sides.
Under the agreement, POSCO Holdings and ANSTO will pursue various collaborative projects related to the development of innovative mid-stream and down-stream processing technologies for lithium, rare earths, and other critical minerals. The two parties will also strengthen joint research cooperation through regular technical exchange meetings.
POSCO Group is currently producing battery-grade lithium on a commercial scale from lithium-containing hardrock and brine feedstocks, while also conducting demonstrations of the next-generation of processing technologies, such as Direct Lithium Extraction (DLE) technology. In the rare earth sector, the Group is actively exploring commercialization and technology internalization through collaborations and MOUs with domestic and overseas research institutions. In May this year, POSCO established the Australia Critical Minerals R&D Laboratories, the first overseas resource-specialized research base set up by a Korean company in Australia.
Ki-soo Kim, POSCO Group CTO, stated:
“POSCO Group is expanding its business scope beyond steel into the critical minerals sector, driving sustainable technological innovation. Today’s cooperation with ANSTO will serve as an opportunity to further strengthen the technological competitiveness of POSCO Group’s critical minerals business. By combining POSCO Group’s business capabilities with ANSTO’s critical and strategic minerals processing expertise, we will take the lead in the global critical minerals supply chain.”
Oleh Nakone, Group Executive Nuclear Medicine and Commercial at ANSTO, said:
“Through this collaboration with the POSCO Group, we can achieve the necessary innovation to enable both Australia’s and the Republic of Korea’s energy transitions in a sustainable way and diversify the supply chains of the economically significant critical minerals that both our countries require. Our applied R&D cooperation will deliver tangible results in the critical minerals sector.”
POSCO Holdings plans to continue expanding its network with major Australian research institutions, thereby enhancing its R&D capabilities in lithium, rare earths, and other critical minerals, and further boosting its global technological competitiveness.