[Asia Economy Reporter Minwoo Lee] Welcron Hantec's stock price is on the rise. The news that POSCO has reached an agreement with the Argentine local government to develop lithium brine has highlighted Welcron Hantec's track record of supplying lithium concentration facilities to POSCO.
As of 10:54 AM on the 12th, Welcron Hantec's stock price recorded 4,255 KRW, up 9.10% from the previous day. The news that POSCO has agreed with Argentine local governments to develop brine appears to have acted as a positive factor.
According to the industry, Gustavo S?enz, governor of Salta Province, Argentina, and Ra?l Jalil, governor of Catamarca Province, recently signed a basic agreement to promote the development and investment of lithium brine mining rights for POSCO's 'Sal de Oro' project located in Puna, a border area of the provinces. This contract allows POSCO to safely develop lithium brine in the Puna border area of Argentina.
Considering that the spot price of Chinese lithium carbonate, which was around $5,000 per ton in July last year, surged to over $12,000 as of the previous day, the cumulative sales amount of lithium contained in POSCO's brine is estimated to exceed 35 trillion KRW.
Meanwhile, Welcron Hantec supplied cathode material extraction facilities, including lithium concentration equipment, to POSCO in 2016.
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