Chang, In-Hwa, CEO of POSCO HOLDINGS, shared the POSCO decarbonization roadmap and emphasized solidarity to secure market value for low-carbon steel

POSCO honored as a ‘Sustainability Champion’ for 5 consecutive years… proving global ESG leadership

Chang, In-Hwa, CEO of POSCO HOLDINGS, attended the regular meeting of the World Steel Association (worldsteel) held in Berlin, Germany, to emphasize the critical importance of global cooperation in the transition to decarbonization.

On the 13th (local time), CEO Chang participated in the Executive Committee meeting, the highest decision-making body of worldsteel, representing the Korean steel industry. The meeting brought together CEOs from global steel giants—including China Baowu Steel Group, Nippon Steel, and India’s JSW—to engage in in-depth discussions on key mid-to-long-term challenges, such as responding to the energy crisis, the industrial impact of geopolitical risks, and the international standardization of carbon emission measurement.

During the session, he highlighted that the ‘decarbonization transition’ is a collective imperative for the steel industry, even amidst structural headwinds like slowing demand and rising energy costs. CEO Chang took the opportunity to share the POSCO decarbonization roadmap with global peers.

“Close cooperation and solidarity across the global steel industry are essential for a successful decarbonization transition and for ensuring that low-carbon steel products are recognized for their fair value in the market,” he stated.

Following the meeting, CEO Chang held a series of bilateral discussions with industry leaders, including Sajjan Jindal, Chairman of JSW Group (India), and Liu Jian, Chairman of HBIS Group (China). He exchanged views on core issues such as overseas steel investment, carbon reduction technology, and supply chain stabilization, exploring new business opportunities to secure future growth engines for the group.

The visit also yielded significant recognition. At the member meeting held the following day, CEO Chang accepted the ‘Sustainability Champion’ plaque on behalf of POSCO. This certification is awarded by worldsteel to companies that lead the sustainable development of the steel industry. By being selected for five consecutive years since 2022, POSCO has once again solidified its position as a global leader in ESG management.

▲ On the 14th (Berlin local time), POSCO was named a ‘Sustainability Champion’ by worldsteel. From the left: Chang, In-Hwa, CEO of POSCO HOLDINGS, and Uğur Dalbeler, Chairman of worldsteel and Chairman of Çolakoğlu Metalurji A.Ş. (Türkiye).

Jin-nyeong Yoo appointed as Chair of the Board; Joo-yeon Kim appointed as new Outside Director; Jun-gi Kim reappointed as Audit Committee member

Seok-mo Jung appointed as new Inside Director; Hee-geun Lee appointed as Non-Executive Director; Ju-tae Lee and Ki-soo Kim reappointed as Inside Directors

Annual dividend for FY2025 confirmed at KRW 10,000 per share; shareholder value enhancement commitment fulfilled through 2% treasury share cancellation, achieving the three-year 6% target

POSCO Holdings held its 58th Ordinary General Meeting of Shareholders and a board meeting on March 24 at POSCO Center in Seoul, where key agenda items were approved.

In his opening remarks, In-hwa Chang, Chairman of POSCO Group, stated, “Despite challenging external conditions last year, including the expansion of global protectionism and an industrial slowdown, we strengthened the foundation for growth in our ‘2 Core’ businesses of steel and secondary battery materials.”

Chairman Chang added, “We will make 2026 a true inflection point for delivering tangible results,” outlining key initiatives for the year ahead: securing profitability through steel joint ventures in North America and India; realizing the outcomes of investments in secondary battery materials through the commencement of commercial lithium production in Argentina and earnings contributions from lithium mining operations in Australia; and expanding the value chain of infrastructure businesses, including energy and food.

He also emphasized that safety is a fundamental prerequisite for growth, highlighting the importance of establishing a worker-centered safety culture and building a safer and more efficient operational environment through the integration of AI and robotics.

All agenda items related to the appointment of directors were approved at the shareholder’s meeting. Joo-yeon Kim, former Vice President for Japan and Korea at P&G and a global marketing and management expert, was appointed as a new outside director. Jun-gi Kim, whose term as outside director had expired, was reappointed as a member of the Audit Committee.

Seok-mo Jung, Head of the Business Synergy Division, was newly appointed as an inside director. Ju-tae Lee, Head of the Corporate Strategy Division, and Ki-soo Kim, Head of POSCO N.EX.T Hub, were reappointed as inside directors. Hee-geun Lee, President and CEO of POSCO, was appointed as a non-executive director.

At the subsequent board meeting, outside director Jin-nyeong Yoo was appointed as Chair of the Board. Chair Yoo is a leading expert in advanced materials and secondary battery technologies, having previously served as Chief Technology Officer of LG Chem.

At the shareholder’s meeting, shareholders also approved the FY2025 financial statements, partial amendments to the Articles of Incorporation, and the cap on director remuneration. In addition, a year-end dividend of KRW 2,500 per share was approved, bringing the total annual dividend to KRW 10,000 per share. The Company also received approval to cancel treasury shares equivalent to 2% of total issued shares (approximately KRW 635.1 billion), thereby fulfilling its commitment to enhance shareholder value under the previously announced plan to cancel a total of 6% of treasury shares over three years (announced in July 2024).

▲ POSCO Group Chairman In-hwa Chang presides over the 58th Ordinary General Meeting of Shareholders of POSCO Holdings.

Comprehensive review of cooperation with local steelmakers, stable material supply for Korean companies operating locally, and global expansion strategies for energy business

Chairman In-hwa Chang will preside over the Southeast Asia regional strategy meeting in Singapore on the 25th to review the complete localization execution strategies for the steel business.

This meeting was convened to strengthen regional business competitiveness and accelerate overseas growth strategies by establishing a complete localization operational system for overseas steel subsidiaries, amid growing uncertainties in the external business environment such as intensified global protectionism and slowing demand.

Chairman Chang, together with heads of key subsidiaries in the region, will review this year’s business plans and safety management policies, and focus discussions on the direction and execution tasks for advancing the supply chain of overseas subsidiaries.

In particular, the meeting will concretize execution plans for overseas growth strategies encompassing both steel and energy businesses, including:

• Expanding cooperation with local steelmakers in the region
• Establishing a stable material supply system for Korean companies operating locally
• Creating synergies between subsidiaries
• Expanding regional logistics hubs and improving operational efficiency
• Reviewing key issues of the Singapore LNG trading subsidiary established last year

Southeast Asia is a strategic market with high growth potential in downstream industries such as automobiles, home appliances, and construction. POSCO Group plans to systematically promote tailored growth strategies for each region by building a complete localization supply chain system based on its global business network.

POSCO Group has established production, processing, and distribution systems in the Southeast Asia region centered on key local subsidiaries, including PT. Krakatau POSCO in Indonesia, POSCO Yamato Vina, POSCO-Vietnam, POSCO-VST in Vietnam, POSCO-TCS and POSCO-Thainox in Thailand, and POSCO-Malaysia in Malaysia. Based on this, the Group is pursuing customer-focused sales strategies and expanding high value-added products, while continuously strengthening integrated regional competitiveness from raw material procurement to steel production and sales.

Meanwhile, Chairman Chang emphasized at the first group management meeting of the year in January, “We must materialize the fruits of future growth investments based on execution capabilities in times of crisis.” The Southeast Asia regional strategy meeting is part of efforts to further enhance the execution of overseas growth strategies in line with this management policy.

Focus to deliver the steel “complete localization strategy” and tangible profits in secondary battery materials… positioning the energy business as the “Next Core”

Defined AI as a key driver that will shape the Group’s future… accelerating AX across all areas from manufacturing to office work

Chairman In-hwa Chang presented “overwhelming execution” and “creating results” as the Group’s key management themes for this year. It reflects his determination to deliver visible outcomes from future investments through bold structural transformation amid a complex crisis—and to prove those outcomes in “numbers.”

On Jan. 29, POSCO Group held its first Group management meeting of the year, chaired by Chairman In-hwa Chang, to review the Group’s business plans and major pending issues. The meeting focused on strategic measures to strengthen fundamental competitiveness by business segment and to deliver a clear performance rebound by proving management results in quantitative terms.

At the meeting, Chairman Chang cited the challenging environment—including intensifying global trade barriers and prolonged low growth—and emphasized, “To break through stagnation, we must boldly reshape the Group’s fundamentals with ‘profitability’ at the center.” He also reiterated that the Group will shift into a high-intensity emergency management mode to restore market confidence by delivering overwhelming results that exceed its management targets.

First, in the steel business, POSCO Group will reinforce a stable profit structure through structural cost innovation and expanded sales of high value-added products. This year, it will accelerate the transition to decarbonization by commencing construction of a hydrogen reduction steelmaking demo plant and completing the Gwangyang electric arc furnace, while fully rolling out the “complete localization strategy” in global markets. To that end, the Group plans to steadily advance the Louisiana steel mill project in the U.S., cooperation with Cleveland-Cliffs, and the establishment of a joint venture for an integrated steel mill in India.

For growth businesses such as secondary battery materials and infrastructure, POSCO Group will leverage favorable market conditions—such as a strong exchange-rate environment and firmer lithium prices—as strategic opportunities to accelerate clear and visible profit creation compared with last year. In secondary battery materials, the Group will fully begin commercial lithium production at POSCO-Argentina and complete the acquisition of an equity stake in a lithium mine with Mineral Resources in Australia, thereby converting its investments to date into meaningful earnings and driving tangible performance improvement.

In particular, Chairman Chang stressed that the energy business must establish itself as the Group’s “Next Core,” connecting steel and secondary battery materials. To achieve this, he said POSCO Group will continue investments to expand LNG production capacity and strengthen global trading capabilities, thereby expanding the energy business’ role as a core profit engine for the Group.

In addition, safety management innovation and faster AX (AI Transformation) were presented as key tasks for reshaping the Group’s fundamentals. Chairman Chang defined AI as a key driver that will determine the Group’s future, and said the Group will maximize enterprise-wide efficiency by adopting AI in manufacturing sites to secure a super-gap technology edge and by expanding AI adoption across office functions.

Closing the meeting, Chairman Chang said, “POSCO’s strength is finding opportunity even in a crisis and making a leap forward,” underscoring that this year will be the most critical one for the Group. He also reaffirmed, “With meticulous planning and overwhelming execution, we must turn future growth investments into concrete outcomes,” adding, “Let’s make this a year in which we clearly prove the Group’s fundamental competitiveness in numbers.”

Meanwhile, the quarterly POSCO Group management meeting is a forum to review the Group’s mid- to long-term strategy and key issues. The meeting was attended by Chairman In-hwa Chang and other Group executives, including CEOs of major business companies.

▲Chairman In-hwa Chang chairs the Group Technology Strategy Meeting held in March 2025.

Steel and LNG-centered energy businesses maintained profitability, offsetting temporary losses from major plant repairs and construction projects in Q4

This year’s investment achievements include overseas steel joint ventures and lithium mine equity acquisitions; commercial lithium production expected to drive profit rebound

73 restructuring cases completed, generating KRW 1.8 trillion in cash; additional 55 cases planned by 2028 to generate KRW 1 trillion for growth investments

POSCO Holdings announced its 2025 consolidated results, reporting sales of KRW 69.095 trillion, operating profit of KRW 1.827 trillion, and net profit of KRW 504 billion.

Despite a global economic slowdown and heightened protectionism, POSCO Holdings defended short-term profitability by leveraging solid earnings from its steel and LNG businesses, offsetting initial operating costs in the secondary battery materials segment and one-off losses in the infrastructure segment.

In particular, the company secured a long-term growth foundation through domestic and overseas steel investments and lithium mine acquisitions. This year, POSCO Holdings expects tangible results from overseas steel expansion, the commencement of commercial lithium production amid a recovering lithium price trend, resolution of one-off loss factors, and restructuring of loss-making subsidiaries.

[Steel segment]
On a separate basis, POSCO’s steel sales fell 6.8% year-on-year to KRW 35.011 trillion. However, structural cost innovations such as maximizing energy efficiency improved profitability, with operating profit rising 20.8% year-on-year to KRW 1.78 trillion, marking a successful rebound.

Although Q4 saw a temporary drop in production and sales due to rising raw material costs and major plant repairs, higher sales prices compared to the previous quarter helped defend profitability.

[Secondary battery materials segment]
POSCO Future M maintained profitability at the previous year’s level despite weak lithium prices. Newly completed plants, such as POSCO Argentina, began commercial production at the end of 2024, with initial operating costs reflected upfront, leading to a temporary decline in consolidated operating profit. The company plans to quickly offset these factors as operations stabilize.

[Infrastructure segment]
POSCO International maintained solid earnings by expanding its value chain through LNG production increases at Australia’s Senex Energy and acquiring an Indonesian palm company. POSCO E&C, despite increased plant orders, saw its losses widen due to one-off costs from construction suspensions.

POSCO Holdings noted that the temporary low point in Q4—caused by major plant repairs, costs from selling loss-making subsidiaries, and one-off construction losses—has passed. The company expects an upward trend in profits this year, driven by solid steel and LNG earnings and the start of commercial lithium production.

[Key management plans for 2026]
POSCO Holdings will execute major domestic and overseas investment plans and restructure low-profit/non-core assets to directly link them to profits.

• Steel segment: Strengthen specialized competitiveness at Pohang Works (energy steel) and Gwangyang Works (mobility steel), accelerate decarbonization with the start of construction on the hydrogen reduction steelmaking demo plant, and steadily advance overseas joint projects under the “complete localization strategy.”

• Secondary battery materials segment: Begin profitability improvement with the start of commercial lithium production in Argentina; Australia’s lithium mine equity acquisition will contribute to earnings immediately from the second half of the year.

• Infrastructure segment: Strengthen the energy value chain through LNG production expansion at Senex Energy in Australia and the acquisition of an Indonesian palm company, generating continuous additional profits.

[Restructuring plan]
POSCO Holdings will extend the restructuring of low-profit/non-core assets, initiated in 2024, through 2028, aiming to generate a total of KRW 2.8 trillion in cash to fund growth investments.

• Status: 73 cases completed by 2025, generating KRW 1.8 trillion in cash
• Plan: 55 additional cases from 2026 to 2028, generating KRW 1 trillion in cash

Highly rated for HyREX (hydrogen reduction steelmaking) technology and stakeholder communication.

POSCO Holdings has been named a “Top Performer” after ranking 4th globally in the Just Transition Benchmark assessed by the World Benchmarking Alliance (WBA), a global sustainability evaluation organization.

The WBA is a non-profit foundation launched at the 2018 UN General Assembly. It selects 2,000 most influential companies each year to evaluate their contributions to the UN Sustainable Development Goals (SDGs). This year’s the 2,000 most influential companies list includes 50 Korean companies, including POSCO Holdings.

In this assessment, POSCO Holdings ranked 4th out of over 1,600 global companies in the Just Transition Benchmark, while simultaneously securing 1st place both globally and in Korea within the Steel and Mining sector. The company also demonstrated its ESG leadership in the Nature Benchmark, ranking 87th globally, 16th in the Steel and Mining sector, and 1st in Korea.

The recognition as a “Top Performer” in the Just Transition is a direct result of the company’s efforts to reduce carbon emissions through its “HyREX” (hydrogen reduction steelmaking) technology and its successful communication with stakeholders. POSCO Holdings scored 75 out of 100 in the Just Transition Benchmark, placing it in the top five global companies.

In recognition of these achievements, POSCO Holdings attended the WBA event held during the World Economic Forum in Davos, Switzerland, where it shared sustainability cases with other top-tier global companies. The company further strengthened international cooperation by discussing decarbonization alternatives.

▲POSCO Holdings ranked 4th globally in the WBA’s Just Transition Benchmark and was named a Top Performer. (Source: WBA Website).

POSCO Holdings received high ratings from various global ESG rating agencies last year. In the assessment published by MSCI (Morgan Stanley Capital International), the company maintained an overall grade A for three consecutive years. Additionally, it received a risk score of 23.3 (medium risk) from Sustainalytics, placing its management capabilities in the top 4% of global steelmakers.

Recently, POSCO Holdings announced a large-scale lithium investment plan as a core strategy to realize its vision of “Materials for the Nation,” laying a critical foundation for its ambition to emerge as a global lithium player. The investments target equity stakes in lithium mines in Australia and mining rights to the Hombre Muerto salt lake in Argentina, enabling POSCO Holdings to secure stable lithium production capacity while strengthening its global competitiveness. In this article, we take an in-depth look at the strategic significance of these investments and POSCO Group’s long-term lithium business outlook, together with Senior Research Fellow Jae-bum Park of the POSCO Research Institute.

Lithium is currently the most widely used material in electric vehicle batteries, yet its strategic value continues to rise rapidly. Beyond electric vehicles, lithium-based batteries are increasingly essential across a wide range of industries, including artificial intelligence, drones, next-generation aircraft, and space exploration. They also play a critical role in Energy Storage Systems (ESS), which store electricity generated from renewable energy sources such as solar and wind power. As demand continues to expand across these sectors, global efforts to develop faster and more efficient next-generation batteries are accelerating. Once commercialized, these advanced batteries are expected to drive a significant increase in lithium demand beyond current levels. In this context, lithium has firmly established itself as one of the most closely watched and strategically important raw materials worldwide.

Against this backdrop, POSCO Holdings, following extensive deliberation, decided to move forward with a large-scale lithium investment to strengthen its competitiveness in future advanced materials businesses. The initiative comprises two key pillars: an equity investment in lithium mines in Australia and the acquisition of mining rights to the Hombre Muerto salt lake in Argentina. These investments reflect POSCO Holdings’ strong commitment to securing a stable supply of high-quality lithium resources and positioning itself as a global lithium company.

Globally, only around ten lithium mines are classified as Tier-1, a designation reserved for assets with exceptionally high ore grades. Most of these are concentrated in Western Australia. POSCO Holdings plans to acquire equity stakes in two such Tier-1 assets: the Wodgina mine and the Mt Marion mine.

▲ POSCO Holdings, through a joint venture intermediate holding company established with Australia’s Mineral Resources, holds a 30% stake in the Wodgina mine (left) and the Mt. Marion mine (right). (Right photo source: Mineral Resources website)

The Wodgina mine has officially confirmed reserves of approximately 6.5 million tonnes of lithium carbonate equivalent (LCE)*, the standard reference form for lithium used in battery materials. Lithium at Wodgina is produced in the form of spodumene concentrate, which undergoes beneficiation to increase lithium content. With spodumene grades reaching approximately 5.5%, the Wodgina mine is widely regarded as a top-tier lithium asset. The Mt Marion mine likewise holds around 2.1 million tonnes of LCE in reserves, with spodumene concentrate grades approaching 5%, and is therefore also recognized as a high-quality lithium resource.

*LCE (Lithium Carbonate Equivalent): a standardized measure expressing lithium content in terms of lithium carbonate.

Currently, Mineral Resources holds a 50% stake in each mine. POSCO Holdings plans to establish a jointly owned intermediate holding company with Mineral Resources and invest approximately USD 765 million (around KRW 1 trillion) to acquire a 30% stake in the holding company.

By securing equity stakes in the Wodgina and Mt Marion mines, POSCO Holdings expects to stably secure approximately 270,000 tonnes of lithium concentrate per year, reflecting planned production capacity expansions at both sites. This volume is sufficient to produce around 37,000 tonnes of lithium hydroxide—enough to supply batteries for approximately 860,000 electric vehicles. Both mines are capable of producing spodumene concentrate, meaning the investment is expected to generate revenue not only through concentrate sales, but also by securing a stable supply via long-term offtake agreements.

In hard-rock lithium operations, raw material costs account for a substantial portion of total production costs, making integration between mining and downstream processing a critical determinant of cost competitiveness. Even with optimized production processes, there are inherent limits to reducing raw material costs. Accordingly, this investment provides a strategic foundation for generating raw material sales revenue, mitigating exposure to price volatility, and improving overall operational efficiency across the value chain.

In addition to its Australian mine investments, POSCO Holdings plans to acquire additional mining rights at the Hombre Muerto salt lake in Argentina. In 2018, the company already secured mining rights covering approximately 25,000 hectares in the northern portion of the salt lake, which spans a total area of roughly 60,000 hectares. Hombre Muerto is widely regarded as one of the world’s highest-quality brine resources, characterized by high lithium concentrations and low impurity levels. In light of expectations for rapidly rising global lithium demand, POSCO Holdings decided to pursue the additional acquisition.

The newly acquired area is adjacent to POSCO Holdings’ lithium processing plant currently under construction. The mining rights are held by NRG Metal, the Argentine subsidiary of Canadian company Lithium South. POSCO Holdings plans to acquire a 100% stake for approximately KRW 100 billion, enabling operational synergies with its existing salt lake assets.

The newly acquired salt lake asset is estimated to contain approximately 1.58 million tonnes of LCE, with an average lithium concentration of 736 mg/L, and is considered a premium brine resource due to its low impurity levels. Because the asset is located within the same Hombre Muerto salt lake already operated by POSCO Holdings, the brine composition is highly similar. This allows the company to leverage existing extraction processes, local infrastructure, and operational experience, creating favorable conditions for producing lithium at a competitive cost.

In parallel, POSCO Holdings is developing Direct Lithium Extraction (DLE) technology, moving away from the conventional evaporation pond method that requires several years. DLE offers shorter processing times, higher recovery rates, reduced land requirements, and lower water and environmental impact, making it a promising next-generation lithium extraction technology. With the additional mining rights secured, POSCO Holdings will be able to expand its lithium carbonate production infrastructure. Once DLE technology is fully validated and commercialized, the company expects to achieve more economical and efficient lithium production.

▲Ombre Muerto lithium salt lake, Argentina.

POSCO Group has established a foundation to produce lithium hydroxide domestically starting in 2024 by securing a supply of spodumene mined in Australia. This strengthened cooperation has expanded into equity investments in Australian lithium mines and broader collaboration with leading Australian research institutions, reinforcing R&D capabilities in critical minerals such as lithium and rare earth elements.

▲ 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.

In May, POSCO Holdings became the first Korean company to establish a dedicated overseas resource research hub with the launch of the Australia Critical Minerals R&D Lab. In November, it signed an MOU with the Australian Nuclear Science and Technology Organisation (ANSTO), Australia’s leading government-affiliated research institute and a central hub for critical minerals R&D. Through this partnership, the two organizations plan to pursue joint research projects in refining technologies and advanced material characterization, while holding regular technical exchange forums to strengthen global technological competitiveness.

By securing premium lithium resources, POSCO Group is establishing a stable supply base that will enable it to compete with top-tier global lithium producers over the long term. Worldwide, 65 companies are preparing for lithium production. Based on projected 2025 output, the top five producers are Albemarle, Ganfeng Lithium, SQM, Rio Tinto, and Tianqi Lithium.

Their primary competitive advantage lies in ownership of large-scale, high-grade lithium resources. Through this investment, POSCO Holdings is expected to secure annual lithium production capacity of approximately 93,000 tonnes by 2026—exceeding the roughly 70,000 tonnes produced by Tianqi, currently ranked fifth globally. Once ramp-up is complete and production stabilizes, POSCO Group has a strong chance of entering the global top 10 lithium producers.

By securing both spodumene from hard-rock mines and lithium from salt lakes, POSCO Holdings is also well positioned to expand refining capacity as market demand grows. This allows consideration of investments not only in lithium hydroxide, but also lithium carbonate, reducing supply-demand risks while diversifying the supply chain. Going forward, POSCO Group will continue to closely monitor lithium market conditions and policy developments, adjusting investment scale and timing with flexibility.

The recent Australian mine investments and the additional acquisition of salt lake mining rights in Argentina clearly demonstrate that POSCO Holdings’ future growth strategy is progressing successfully—and that its blueprint for securing premium lithium resources is steadily being realized.

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.

Prioritizing the acquisition of high-quality resources… Chairman In-hwa Chang: “We will diversify the lithium supply chain and leap forward as the world’s No. 1 lithium company”

POSCO Holdings will invest a total of KRW 1.1 trillion to secure high-quality lithium resources in Australia and Argentina, aiming to strengthen its competitiveness in raw materials for secondary battery materials.

This initiative is part of POSCO Group’s secondary battery materials business strategy, which prioritizes securing high-quality resources through swift and aggressive investments in global lithium assets, thereby enhancing cost competitiveness and ensuring a stable supply of raw materials.

On November 11, POSCO Holdings decided to acquire a 30% stake in a newly established intermediate holding company of Mineral Resources, a leading Australian mining company. The investment amounts to approximately USD 765 million, or about KRW 1 trillion.

Through this investment, POSCO Holdings will be able to stably secure 270,000 tons of lithium concentrate annually from Mineral Resources’ globally top-tier lithium mines — the Wodgina Mine and the Mt. Marion Mine in Western Australia. This figure reflects the planned production capacity expansion of the two mines and is equivalent to producing 37,000 tons of lithium hydroxide, enough to power approximately 860,000 electric vehicles.

The strategic equity investment in the Australian lithium mines will allow POSCO Holdings to participate in mine management and secure dividend income, with plans to pursue phased business expansion into lithium concentrate refining when the market enters a full growth phase.

In addition, POSCO Holdings is accelerating the acquisition of high-quality brine lithium resources.

On November 5, POSCO Holdings decided to invest USD 65 million (approximately KRW 95 billion) to acquire 100% of the shares in the Argentine subsidiary of Lithium South (LIS), a Canadian resource development company that owns mining rights within the Hombre Muerto salt lake in Argentina.

Having already acquired key mining rights in the Hombre Muerto salt lake in 2018, POSCO Holdings will, through this adjacent mining rights acquisition, secure additional resources and land in one of the world’s highest-grade lithium deposits. The company expects strong synergies with its existing lithium projects in Argentina, leveraging already established infrastructure and operational know-how.

Chairman In-hwa Chang of POSCO Group stated, “Securing raw material competitiveness is paramount to becoming the world’s No. 1 lithium company. We will diversify the global lithium supply chain through active investments.”

Chris Ellison, CEO of Mineral Resources, said, “We are pleased to see our solid partnership with POSCO Group, which began with the Onslow iron ore mine project in Western Australia, expand into the lithium business. We look forward to combining our capabilities to continuously create value at the Wodgina and Mt. Marion mines.”

Since Chairman In-hwa Chang took office last year, POSCO Group has reorganized its business portfolio into “2 Core (Steel & Secondary Battery Materials) + New Engine (New Businesses).” Through future growth investments in its core businesses, the group aims to go beyond its long-standing mission of “patriotism through steelmaking” to realize “materials patriotism” by localizing secondary battery materials and contributing to the enhancement of national economic and industrial competitiveness.

▲ The Wodgina lithium mine in Western Australia, owned and operated by Australian Mineral Resources.

▲ Hombre Muerto lithium salt lake, Argentina.