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Posco expands lithium processing capability | Automotive Trade Information
South Korean metal maker Posco continued to extend its publicity to the fast-growing electrical car (EV) section after it introduced plans to construct a brand new lithium hydroxide extraction plant, in response to native stories.
Building of the plant was scheduled to start later this yr within the South Korean metropolis of Gwangyang and anticipated to be accomplished by 2023.
The power would have an annual manufacturing capability of 43,000 tons of lithium hydroxide, a key materials for electrical car (EV) batteries, sufficient to energy round 1m EVs. The fabric could be extracted from spodumene imported from Australia.
Posco was additionally scheduled to start building of a lithium processing plant in Argentina, close to the Salar del Hombre Muerto salt lake, with capability of 25,000 tons per yr. This adopted the acquisition in 2018 of mining rights within the nation from Australia’s Galaxy Assets for US$280m.
The South Korean firm stated the location had confirmed lithium reserves of 13.5m tons, sufficient to make batteries for round 370m EVs.
Posco stated it plans to extend its international lithium manufacturing capability to 220,000 tons per yr by 2030.
The corporate has made vital inroads into the EV provide chain this yr. Earlier this month it introduced it could provide cathodes for the batteries to be fitted to Normal Motors electrical automobiles (EVs) produced within the US.
Final month Posco stated it deliberate to develop capability to supply bipolar plates utilized in hydrogen gas cell programs.