POSCO Pilbara Minerals JV Opens South Korean Lithium Hydroxide Facility
30 November 2023
Pilbara Minerals (ASX: PLS) is pleased to announce that Train 1 of the Lithium Hydroxide Monohydrate Chemical Facility (Chemical Facility) in Gwangyang, South Korea, has been officially opened with the milestone marked by an event attended by the Board of Pilbara Minerals and the Chair of POSCO Holdings.
The Chemical Facility is owned and operated by the POSCO Pilbara Lithium Solution Co Ltd (PPLS) joint venture (JV) with POSCO Holdings owning 82% and Pilbara Minerals owning 18%. Pilbara Minerals has the option to increase its equity interest to 30% at any time up to 18 months after successful ramp of the Chemical Facility to 90% of nameplate capacity.
Train 1 of the Chemical Facility is designed to produce 21.5 thousand tonnes per annum (ktpa) of lithium hydroxide when at nameplate capacity with commissioning to commence shortly.
Pilbara Minerals’ Managing Director and CEO, Dale Henderson, said:
“Pilbara Minerals began discussions with POSCO about this chemical facility in 2018 and so today is a momentous occasion for both parties as we progress our strategy of diversifying into the downstream value chain.
“Together we look forward to becoming a meaningful producer of lithium hydroxide, supporting the world’s transition to a more sustainable energy future.
“I would like to thank our partner POSCO Holdings, particularly Chairman Choi, for their support and commitment to date. The strong bond and bilateral relationship between Australia and South Korea continues to be strengthened through partnerships like ours.”