Input 2021.03.03 15:36 | Revision 2021.03.03 16:09
According to POSCO on the 3rd, the spot price of lithium carbonate in China rose from $5,000 per ton in July last year to $11,000 per ton last month. As the global electric vehicle market grows, the price of lithium, an essential material for electric vehicle batteries, is also showing strong strength.
Lithium reserves also increased significantly more than expected at the time of the acquisition. As a result of POSCO’s detailed exploration, it was confirmed that the lithium reserve in the Ombre Muerto lithium salt lake is 13.5 million tons, six times more than the estimated 2.2 million tons. POSCO expects that the price of lithium, an essential material for electric vehicle batteries, will continue to rise as the global electric vehicle market is growing.
POSCO completed a demonstration plant (trial operation facility) at the Ombre Muerto Salt Lake in August last year and is in normal operation. As soon as the demonstration of the demonstration plant is completed, it will proceed with the licensing procedure to build the infrastructure for commercial production.
In addition to lithium, POSCO is trying to secure raw materials for secondary battery materials. Nickel, a key raw material for cathode materials, will be secured by itself through recycling (recycling) projects using waste batteries and investments in nickel mines in Australia and other countries. In addition, graphite, a raw material for anode material that is currently entirely dependent on China, also decided to diversify supply and demand. POSCO acquired a 15% stake in Black Rock Mining, an Australian mining company that owns a graphite mine in Tanzania, Africa.
POSCO aims to complete a value chain (value chain) that produces from the world’s only raw materials to secondary battery materials. By 2030, it will establish its own supply system of lithium, nickel, graphite, etc., which are raw materials for secondary battery materials, and POSCO Chemical plans to establish a production system of 400,000 tons of cathode materials and 260,000 tons of anode materials annually using these materials.