POSCO Group is expanding investments in the steel and secondary battery materials sectors and strengthening its production base. Following the appointment of Chairman Jang In-hwa, the group established an investment strategy focused on global industrial competitiveness, aiming to rebuild its steel competitiveness in accordance with the seven major future innovation tasks announced. It will actively review investments in high-quality resources such as lithium brine to enhance its competitiveness and secure innovative technologies in secondary battery materials.
In October, POSCO Group signed a memorandum of understanding (MOU) with India's leading steel company, JSW Group, in Mumbai to cooperate in the steel, secondary battery materials, and renewable energy sectors. The two companies are promoting a project to jointly construct an integrated steel mill with an annual capacity of 5 million tons.
POSCO Group is continuing its business activities, operating a cold-rolled and galvanized plant with a capacity of 1.8 million tons in Maharashtra, India, and five steel processing plants in Delhi, Chennai, and other locations. Through this investment in the steel mill, it aims to strengthen its position in the Indian market, the world's most populous country with significant growth potential.
In October, POSCO Holdings completed a lithium hydroxide plant in Guemes, Salta Province, Argentina, with an annual capacity of 25,000 tons. This is the completion of the first phase of a planned three-phase project by POSCO Holdings, which utilizes brine from lithium salt lakes in Argentina, where it holds 100% mining rights, applying its unique lithium extraction technology. It marks the first case of POSCO Holdings establishing a plant for producing lithium hydroxide for secondary battery materials from overseas lithium salt lakes.
Last month, POSCO Holdings, in collaboration with Australian mining company Pilbara Minerals, established the second plant for producing lithium hydroxide from ore-based sources at the Yeosu Industrial Complex in Jeollanam-do. With this, POSCO Holdings has secured a total lithium production system with an annual capacity of 43,000 tons.
Last month, POSCO Group completed the comprehensive construction of a silicon anode material plant with an annual capacity of 550 tons at the Pohang Yeongilman Industrial Complex. A representative from POSCO Group noted, "We plan to strengthen our competitiveness in the next-generation materials including secondary battery material feedstock, anode and cathode materials, silicon anodes, lithium metal anodes, and solid electrolytes."