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Energy Storage

Posco accelerates lithium investment

by Matt Blois
October 29, 2022 | A version of this story appeared in Volume 100, Issue 38
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Posco Holdings will speed up its project to make lithium hydroxide from Argentine brines, spending $1.1 billion to increase annual production by 25,000 metric tons (t) by 2025. A first phase should start up in 2024, also with 25,000 t of capacity. Posco says the acceleration is a response to growing demand and other tailwinds, like the passage of the Inflation Reduction Act in the US. The South Korean firm plans to raise its global lithium output to 300,000 t by 2030.

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