China’s dominance over Australia’s lithium market is set to be loosened after South Korean giant POSCO inked a $1.2 billion deal with Mineral Resources for a 30 per cent stake in the ASX-listed miner’s two operating lithium projects.
The newly incorporated joint venture will hold MinRes’ existing 50 per cent stakes in its Wodgina and Mount Marion lithium mines in Western Australia, valuing it at $3.9 billion.
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