Mineral Resources, POSCO partner on lithium joint venture

Mineral Resources Limited (ASX: MIN) has entered a binding agreement with POSCO Holdings Inc. to establish a new incorporated joint venture for MinRes’ operational lithium business. POSCO Holdings will acquire a 30% interest (indirect 15% in Wodgina and Mt Marion) for an upfront cash consideration of $765 million. MinRes will retain a 70% interest (35% underlying) and continue as the operator of the Wodgina and Mt Marion mines. The transaction is expected to complete in the first half of calendar year 2026, with proceeds earmarked for debt repayment and funding future growth.

This strategic partnership underlines the growing global demand for Tier 1 hard rock lithium assets and international confidence in Australia's supply capabilities. POSCO Holdings will receive spodumene concentrate proportional to its 30% interest, supporting its future downstream processing investments.

In related market activity, AustralianSuper Pty Ltd increased its substantial holding in Mineral Resources Limited from 5.48% (10,821,541 ordinary shares) to 6.74% (13,319,135 ordinary shares) as of November 12, 2025.