POSCO Holdings has embarked on a groundbreaking project to produce lithium for secondary batteries from a salt lake in Argentina. This initiative marks the construction of Korea’s first lithium hydroxide plant, which will utilize Argentina’s saltwater resources to produce secondary battery materials.

A Significant Step Towards Global Competitiveness

The CEO of POSCO Group, Jeong-woo Choi, emphasized the company’s commitment to enhancing global competitiveness in lithium and other mineral resources. The project is expected to contribute significantly to the development of domestic industries, including the secondary battery sector.

The Lithium Hydroxide Plant: A Hub for Battery Materials

The new lithium factory is projected to have an annual production capacity of 25,000 tons of lithium hydroxide, sufficient for manufacturing approximately 600,000 electric vehicles. The total investment for the project is estimated at KRW 575 billion ($445 million), and the factory is expected to be fully operational by 2025.

POSCO’s Investment in Argentina’s Lithium Resources

The establishment of the lithium hydroxide plant is part of POSCO Holdings’ investment in Argentina’s lithium resources. The initial stage of the production process, which involves producing lithium carbonate, will be conducted at a salt lake in Argentina owned by POSCO Holdings. The subsequent production of lithium hydroxide will take place domestically.

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Source: https://newsroom.posco.com/en/posco-holdings-makes-lithium-for-secondary-batteries-from-salt-lake-in-argentina/