A view of the lithium demonstration plant in Argentina. Provided by POSCO. yunhap news
It is estimated that the value of Argentina’s lithium lake, which POSCO acquired in 2018, has risen more than 100 times. At the time of the acquisition, lithium reserves were more than predicted, and lithium market prices were soaring.
According to POSCO and the industry on the 3rd, the value of the Argentine Ombremuerto lithium salt lake (salt lake) acquired by POSCO for 310 billion won in 2018 is currently estimated at 35 trillion won. It is about 113 times more valuable.
The spot price of lithium carbonate in China has more than doubled from $5,000 per ton in July last year to $11,000 per ton in February this year.
It was also confirmed that the lake’s lithium reserves reached 13.5 million tons at the end of last year. At the time of the acquisition, it was estimated at about 2.2 million tons. That was six times more than expected. This is a level that can produce about 370 million electric vehicles.
A POSCO official said, “As the electric vehicle market is growing worldwide, including China, the price of lithium, an essential material for electric vehicle batteries, is expected to continue to rise.”
In addition to lithium, POSCO is actively investing in nickel, a key raw material for cathode materials that make up secondary batteries.
Nickel, along with lithium, is a major material that is directly connected to battery performance. POSCO plans to secure its own supply of nickel for batteries through recycling (recycling) projects using waste batteries and investments in nickel mines in Australia and other countries.
Reporter Lee Hae-jun [email protected]
