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POSCO’s lithium rationale

February 04, 2010 - 00:00 GMT

KEYWORDS: POSCO , lithium , carbonate , hydroxide , Pan American Lithium , EV , electric vehicles , batteries

South Korean steel producer talks to IM on its entry into the lithium industry via investments in Pan American Lithium and a seawater source as it searches for the world’s “new growth engine”

Together with Toyota Tsusho Corp. (22% owned by Toyota Motor Corp.), POSCO has started its lithium source acquisition trail by purchasing a $4.8m. stake in Pan American Lithium (PAL) which owns a geothermal project in Baja California, Mexico, and several brine resources in Chile’s Atacama region (IM February 2010: Industrial giants invest in lithium).

The world’s fourth biggest steel maker has also led a consortium to develop a $13m. research project into extracting lithium from seawater (IM 3 February 2010: POSCO eyes lithium from sea).

While lithium carbonate and chloride’s use in the aluminium smelting process is well documented, questions were being asked about its relevance to the South Korean steel leader.

What interest does a steel producer have with lithium? POSCO’s thirst for...

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