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.


Azul Airlines Wins Court Approval for $2 Billion Debt Restructuring and New Capital Raise
Trello Outage Disrupts Users as Access Issues Hit Atlassian’s Work Management Platform
Nomura Expands Alternative Assets Strategy With Focus on Private Debt Acquisitions
Strategy Retains Nasdaq 100 Spot Amid Growing Scrutiny of Bitcoin Treasury Model
iRobot Files for Chapter 11 Bankruptcy Amid Rising Competition and Tariff Pressures
Moore Threads Stock Slides After Risk Warning Despite 600% Surge Since IPO
Nvidia Weighs Expanding H200 AI Chip Production as China Demand Surges
ANZ Faces Legal Battle as Former CEO Shayne Elliott Sues Over A$13.5 Million Bonus Dispute
Woolworths Faces Fresh Class Action Over Alleged Underpayments, Shares Slide
Evercore Reaffirms Alphabet’s Search Dominance as AI Competition Intensifies
Intel’s Testing of China-Linked Chipmaking Tools Raises U.S. National Security Concerns
HSBC’s $13.6 Billion Take-Private Offer for Hang Seng Bank Gains Board Backing
Coca-Cola’s Proposed Sale of Costa Coffee Faces Uncertainty Amid Price Dispute
Korea Zinc Plans $6.78 Billion U.S. Smelter Investment With Government Partnership
SoftBank Shares Slide as Oracle’s AI Spending Plans Fuel Market Jitters
CMOC to Acquire Equinox Gold’s Brazilian Mines in $1 Billion Deal to Expand Precious Metals Portfolio
Apple App Store Injunction Largely Upheld as Appeals Court Rules on Epic Games Case 



