Two South Korea government-owned banks will fund a lithium hydroxide plant being built by Pilbara Minerals and POSCO in to the tune of almost $700 million.
move into battery chemical manufacturing amid debate about whether the Albanese government is doing enough to promote onshore processing of Australian minerals.
Pilbara Minerals CEO Dale Henderson says the company is delighted to join with POSCO to establish a foothold in South Korea’s emerging battery materials industry.The loan comes with no recourse to Pilbara Minerals, with the security provided by a joint venture company it formed with POSCO and limited to the land, building, plant and equipment of the hydroxide plant.
Pilbara Minerals managing director Dale Henderson said the company was delighted its joint venture with POSCO had secured this debt funding on commercially favourable terms.
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