Mineral Resources to Sell 30% Lithium JV Stake to POSCO for $765 Million

Australian mining giant Mineral Resources Ltd (MinRes) has announced plans to sell a 30% stake in its lithium joint venture to South Korea’s POSCO Holdings for $765 million, marking a major step in strengthening global supply chains for battery materials.

The deal, which covers assets in Western Australia’s fast-growing lithium sector, will see POSCO acquire a significant share in MinRes’ Mount Marion and other lithium operations, enabling both companies to deepen their collaboration across the electric vehicle (EV) battery value chain.

Chris Ellison, Managing Director of Mineral Resources, said the partnership would “unlock substantial long-term value and expand access to the global EV supply network,” emphasizing the importance of integrating Australian mining capacity with Asian battery manufacturing expertise.

POSCO, one of South Korea’s largest steel and battery materials producers, has been aggressively investing in lithium projects worldwide as it seeks to secure raw materials for its growing battery operations. The acquisition will strengthen its foothold in Australia, a key player in the global lithium market.

Analysts see the deal as a reflection of the rapid consolidation in the lithium industry, where miners and manufacturers are increasingly aligning to stabilize supply chains amid soaring demand for EVs and energy storage solutions.

Completion of the transaction is expected in early 2026, subject to regulatory approvals. The proceeds will help Mineral Resources expand its production capacity and invest further in refining capabilities within Australia.