POSCO expands lithium mining rights in Argentina | Yonhap News Agency

## Summary
OK SEOUL, April 9 (Yonhap) -- South Korean steelmaker POSCO Group said Thursday it has acquired the full ownership of a lithium mining firm in Argentina as part of efforts to strengthen its rechargeable battery materials business. The company purchased a 100 percent stake in the local subsidiary of Lithium South Development Corp., which holds mining rights to the Hombre Muerto North (HMM) salt lake, for 95 billion won (US$65 million), according to its press release. With the addition of the HMM project, which is estimated to contain 1.58 million tons of lithium, POSCO has secured a total of 15 million tons of lithium resources in Argentina, the release said. This file photo, provided by POSCO Holdings, shows the Hombre Muerto North salt lake in Argentina. (PHOTO NOT FOR SALE) (Yonhap) kyongae.choi@yna.co.kr (END) Related Articles POSCO to directly hire 7,000 workers from partner companies POSCO Holdings' 2025 net plunges 46.8 pct on slowdown in construction, battery materials POSCO to invest 1.1 tln won to secure lithium from Australia, Argentina Keywords #POSCO-investment Articles with issue keywords Most Liked (LEAD) BTS tops Billboard albums chart for 2nd week with 'Arirang,' a first in K-pop BTS to drop 'Come Over,' exclusive new track on 'Arirang' LP 'Beef' Season 2 deepens Korean narrative, casts A-listers Youn Yuh-jung, Song Kang-ho BTS tops Spotify weekly charts for 2nd week with new album 'Arirang' Lee voices hope for peace in Easter message Most Saved 'Beef' Season 2 deepens Korean narrative, casts A-listers Youn Yuh-jung, Song Kang-ho (3rd LD) Lee says S.

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SEOUL, April 9 (Yonhap) -- South Korean steelmaker POSCO Group said Thursday it has acquired the full ownership of a lithium mining firm in Argentina as part of efforts to strengthen its rechargeable battery materials business.
The company purchased a 100 percent stake in the local subsidiary of Lithium South Development Corp., which holds mining rights to the Hombre Muerto North (HMM) salt lake, for 95 billion won (US$65 million), according to its press release.
With the addition of the HMM project, which is estimated to contain 1.58 million tons of lithium, POSCO has secured a total of 15 million tons of lithium resources in Argentina, the release said.
Of the total, the company expects to extract at least 3 million tons, enough to support the production of approximately 70 million electric vehicles.
"Based on the additional lithium resources secured, the company will enhance its ability to respond to global market changes and strengthen the competitiveness of its supply chain," a company official said.
In November, POSCO announced plans to invest a combined 1.1 trillion won to secure lithium resources in Argentina and Australia as it seeks to develop its energy materials business into a key growth driver, alongside its core steel operations.
This file photo, provided by POSCO Holdings, shows the Hombre Muerto North salt lake in Argentina. (PHOTO NOT FOR SALE) (Yonhap)
kyongae.choi@yna.co.kr
(END)
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POSCO expands lithium mining rights in Argentina

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## Expert Analysis

### Merits
N/A

### Areas for Consideration
- This file photo, provided by POSCO Holdings, shows the Hombre Muerto North salt lake in Argentina. (PHOTO NOT FOR SALE) (Yonhap) kyongae.choi@yna.co.kr (END) Related Articles POSCO to directly hire 7,000 workers from partner companies POSCO Holdings' 2025 net plunges 46.8 pct on slowdown in construction, battery materials POSCO to invest 1.1 tln won to secure lithium from Australia, Argentina Keywords #POSCO-investment Articles with issue keywords Most Liked (LEAD) BTS tops Billboard albums chart for 2nd week with 'Arirang,' a first in K-pop BTS to drop 'Come Over,' exclusive new track on 'Arirang' LP 'Beef' Season 2 deepens Korean narrative, casts A-listers Youn Yuh-jung, Song Kang-ho BTS tops Spotify weekly charts for 2nd week with new album 'Arirang' Lee voices hope for peace in Easter message Most Saved 'Beef' Season 2 deepens Korean narrative, casts A-listers Youn Yuh-jung, Song Kang-ho (3rd LD) Lee says S.

### Implications
- Of the total, the company expects to extract at least 3 million tons, enough to support the production of approximately 70 million electric vehicles. "Based on the additional lithium resources secured, the company will enhance its ability to respond to global market changes and strengthen the competitiveness of its supply chain," a company official said.
- This file photo, provided by POSCO Holdings, shows the Hombre Muerto North salt lake in Argentina. (PHOTO NOT FOR SALE) (Yonhap) kyongae.choi@yna.co.kr (END) Related Articles POSCO to directly hire 7,000 workers from partner companies POSCO Holdings' 2025 net plunges 46.8 pct on slowdown in construction, battery materials POSCO to invest 1.1 tln won to secure lithium from Australia, Argentina Keywords #POSCO-investment Articles with issue keywords Most Liked (LEAD) BTS tops Billboard albums chart for 2nd week with 'Arirang,' a first in K-pop BTS to drop 'Come Over,' exclusive new track on 'Arirang' LP 'Beef' Season 2 deepens Korean narrative, casts A-listers Youn Yuh-jung, Song Kang-ho BTS tops Spotify weekly charts for 2nd week with new album 'Arirang' Lee voices hope for peace in Easter message Most Saved 'Beef' Season 2 deepens Korean narrative, casts A-listers Youn Yuh-jung, Song Kang-ho (3rd LD) Lee says S.

### Expert Commentary
This article covers posco, lithium, argentina topics. Areas of concern are also raised. Readability: Flesch-Kincaid grade 0.0. Word count: 516.