MinRes Surges on Back of Massive $1.2b Lithium Sale

MinRes surges on back of massive $1.2b lithium sale

Mineral Resources will sell 30 per cent of its WA lithium business to South Korea’s POSCO for $1.2 billion to buttress a debt-laden balance sheet.

MinRes strikes 'first-of-its-kind' deal with South Korean powerhouse - Mining Magazine Australia

Image: Piotr Swat/shutterstock.com Mineral Resources (MinRes) has executed a binding agreement with South Korean steel manufacturer POSCO Holdings to form a new lithium partnership. POSCO will acquire a 30 per cent stake in a new joint venture that holds MinRes’ existing 50 per cent ownership in the Wodgina and Mt Marion lithium mines. POSCO will pay an upfront cash consideration of $US765 million (approximately $1.2 billion) for its interest. T…

MinRes Shares Soar on Lithium Deal

Shares in Mineral Resources (MinRes) surged following the announcement of a $1.2 billion lithium deal with South Korean conglomerate POSCO. The agreement will see Mineral Resources sell a 30 per cent stake in its lithium division to POSCO, a move expected to reduce China’s dominance in the Australian lithium market. Mineral Resources is a diversified resources company with extensive operations in mining services, iron ore, lithium and energy. PO…

MinRes pops +10% as its inks a lithium partnership with South Korea's POSCO

Mineral Resources (ASX:MIN) has staged an impressive recovery in recent months, and that upward momentum continued on Wednesday as the company inked a deal with SK-based POSCO to form a lithium partnership – in the same week, spodumene prices have hit US$1,100/tn again for the first time in over a year. Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, …

MinRes sells lithium stake to Korean company for $1.2b

Mineral Resources is selling 30 per cent of its half-stake in the Wodgina and Mt Martion lithium mines to South Korea's POSCO Holdings for $1.2 billion.