POSCO expands battery raw material supply with stake in First Quantum’s Ravensthorpe nickel operation

South Korean anode and cathode major POSCO is set to take a 30% stake in First Quantum Minerals’ (FQM) Ravensthorpe Nickel Operation in Western Australia for $240 million. FQM will continue to operate the plant and retain 70% ownership of the operation.

As part of the deal, which still requires approval by the Australian Foreign Investment Review, the two parties have agreed a 7,500 tpa offtake deal for mixed hydroxide precipitate (MHP) nickel.

A memorandum of understanding was also established for the two companies to assess developing a partnership to produce battery cathode precursor using MHP from Ravensthorpe.

FQM . . .

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