POSCO has agreed to buy a 15 percent stake in Black Rock Mining for US$7.5 million, paving the way for it to secure graphite fines, a material required to make anodes.
The steel company said no specific date has been set for the formal signing of an offtake agreement with the Australia-based graphite producer.
The Australian mining firm has a 100 percent interest in the Mahenge Project in Tanzania, which hosts a multi-generational graphite resource.
POSCO wants to lower its reliance on China for graphite to less than 50 percent in the medium to long term.
The steelmaker currently imports all of its graphite to produce anodes from China.
POSCO plans to import 220,000 tons of lithium and 100,000 tons of nickel per year by 2030, which would be used by its affiliate, POSCO Chemical Co., to produce 400,000 tons of cathodes and 260,000 tons of anodes by 2030.
POSCO Chemical is eyeing to supply cathodes to EV battery facilities in South Korea, the US, Europe, and China.


Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit
Anthropic Eyes $350 Billion Valuation as AI Funding and Share Sale Accelerate
TrumpRx Website Launches to Offer Discounted Prescription Drugs for Cash-Paying Americans
Australian Scandium Project Backed by Richard Friedland Poised to Support U.S. Critical Minerals Stockpile
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links
Nvidia Nears $20 Billion OpenAI Investment as AI Funding Race Intensifies
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains
AMD Shares Slide Despite Earnings Beat as Cautious Revenue Outlook Weighs on Stock
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 



