POSCO Int'l secures graphite supply from Tanzania

The global cathode materials plant of affiliate POSCO Future M will get 750,000 tons of the mineral for 25 years

POSCO Int'l secures graphite supply from Tanzania
Hyung-Kyu Kim 1
2023-05-30 10:42:59 khk@hankyung.com
Batteries

South Korea's POSCO International has signed a deal on the supply of natural graphite to strengthen its battery raw materials unit.

The company on Monday said it signed a contract with the Tanzania-based Faru Graphite, a subsidiary of the Australian company Black Rock Mining, on the supply of natural graphite from the African country.

POSCO International will spend $10 million (13.2 billion won) to import 750,000 tons of natural graphite over the 25 years of the mine's expected operation. The graphite will go to the global cathode materials plant of POSCO Future M, a POSCO Group affiliate.

Owned by Faru Graphite, the Mahenge mine is the world's second-largest for natural graphite in reserves. Global demand for graphite, a key raw material for manufacturing battery cathode materials, is highly dependent on China.

Through this contract, POSCO Group is expected to respond to the US Inflation Reduction Act by diversifying its suppliers. Market research company Benchmark Mineral Intelligence said global demand for natural graphite by 2035 is expected to jump 6.5 times from last year's supply.

“This is an example of supply that can confirm business synergy among group affiliates,” a company source said.

POSCO International is boosting its battery raw materials unit by reviewing the construction of plants for copper foil raw materials in North America and Europe.

Write to Hyung-Kyu Kim at khk@hankyung.com
#POSCO International #graphite #Tanzania #Faru Graphite #Black Rock Mining #POSCO Future M #cathode materials

POSCO Int'l to directly operate LNG-dedicated carrier

POSCO Int'l to directly operate LNG-dedicated carrier

H-Line Shipping's 174K-cubic-meter LNG carrier POSCO International Corp., the general trading and energy exploration unit of South Korea’s steel giant POSCO Holdings Inc., announced on Wednesday that it has secured a liquefied natural gas (LNG)-dedicated vessel for direct

POSCO International, Pertamina win gas exploration rights off Indonesia

POSCO International, Pertamina win gas exploration rights off Indonesia

POSCO Energy's LNG terminal in Gwangyang, Korea POSCO International Corp., the general trading and energy exploration unit of South Korea’s steel giant POSCO Holdings Inc., said on Thursday it has won the rights to explore gas fields off Indonesia in a consortium with Indonesia’s PT

POSCO International to invest $2.6 billion in energy operations

POSCO International to invest $2.6 billion in energy operations

POSCO Energy's LNG terminal in Gwangyang Korea's POSCO International, the trading arm of POSCO Group, on Friday formally merged with POSCO Energy, which handles liquefied natural gas (LNG) and renewable energy sources. Set for official launch in January, the integrated company will be a special

POSCO Chem buys stake in Chinese graphite processor

POSCO Chem buys stake in Chinese graphite processor

Qingdao Zhongshuo New Energy Technology's new plants under construction (Courtesy of POSCO Chemical) POSCO Chemical Co. has acquired a 13% stake in a Chinese graphite processor as part of the South Korean company's efforts to secure a stable supply of the key anode material used for electric ve

POSCO acquires stake in Tanzania graphite mine to boost battery materials biz 

POSCO acquires stake in Tanzania graphite mine to boost battery materials biz 

South Korea’s largest steelmaker POSCO's commitment to innovation and growth has been well demonstrated this year, as it wraps up acquisition of a stake in a Tanzania-based graphite mine and last week participated in the world’s largest tech exposition CES 2021, the latter a rare m
(* comment hide *}