Global materials firm POSCO plans to spend $830 million on a lithium hydroxide plant in Argentina.

POSCO chose a location near the Salar del Hombre Muerto salt lake in northern Argentina. The plant is to be built by the first half of 2024, and the company expects the 13.5 million tons of lithium on site to support an annual production capacity of 43,000 tons of lithium hydroxide, which is part of the company’s plan to increase its annual lithium production capacity to 220,000 tons by 2030.

In May, POSCO also broke ground on a lithium hydroxide extraction plant in South Korea.

Source: Yonhap News Agency