Joint Development MOU Signed with Korea Institute of Geoscience and Mineral Resources
POSCO Holdings to Cooperate on Key Mineral Technologies for Advanced Industries
Amid U.S. President Donald Trump's demands for a mineral agreement with Ukraine and the escalation of the trade war with China through tariffs and export control measures, POSCO Group is moving to secure a stable supply chain for key minerals such as lithium and rare earth elements.
On the 7th, POSCO Holdings announced that it will jointly develop key mineral technologies, essential raw materials for advanced industries such as secondary batteries, renewable energy, and semiconductors, together with the Korea Institute of Geoscience and Mineral Resources.
On the 4th, POSCO Holdings signed a Memorandum of Understanding for joint development of core mineral-related technologies with the Korea Institute of Geoscience and Mineral Resources. Photo by POSCO Holdings
Earlier, on the 4th, POSCO Holdings signed a Memorandum of Understanding (MOU) for joint development of key mineral-related technologies at the Korea Institute of Geoscience and Mineral Resources in Daejeon. According to the MOU, POSCO Holdings and the Institute will closely cooperate across all fields from exploration to extraction and technology development of key minerals.
The specific scope of cooperation includes ▲ joint development of digital and artificial intelligence (AI) technologies related to exploration and evaluation of key mineral resources ▲ development of extraction technologies for key minerals such as flotation, smelting, refining, and recycling ▲ development of future technologies such as low-grade resource utilization ▲ exchange of domestic and international networks and human resources.
POSCO Group has been securing raw materials of brine and ore lithium stably through ownership and equity investments in overseas salt lakes and mines. The lithium raw materials secured overseas are used to produce lithium hydroxide at domestic and international business sites, contributing to the supply chain of domestic advanced industries.
POSCO Group plans to further secure high-quality resources such as lithium salt lakes in North and South America and mines in Australia to pursue product process and technology innovation and strengthen business competitiveness.
Kim Ki-su, head of the Future Technology Research Institute at POSCO Holdings, said, "Through this agreement, we will secure a stable supply chain for key minerals such as lithium and rare earth elements and rapidly develop key mineral extraction technologies to contribute to strengthening the global competitiveness of Korea's industry."
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