August 26, 2019 / 10:53 PM / 2 months ago

Australia's Pilbara Minerals, POSCO form JV to operate conversion facility in South Korea

Aug 27 (Reuters) - Australia’s Pilbara Minerals Ltd on Tuesday executed a binding terms sheet with POSCO for formation of a joint venture in South Korea to develop and operate a lithium hydroxide and carbonate chemical conversion facility.

The lithium producer Pilbara will initially hold a 21% interest in the joint venture with an option to increase to 30%, the company said in a statement.

Pilbara said board approvals from both parties for the agreement are expected in the December quarter of 2019. (Reporting by Aby Jose Koilparambil in Bengaluru Editing by Chris Reese)

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