Mubo Supports POSCO Holdings' Australian Lithium Development Project with $520 Million Funding

[Asia Economy Sejong=Reporter Dongwoo Lee] Korea Trade Insurance Corporation (K-sure) announced on the 26th that it has decided to provide financial support of $520 million for the Hombre Muerto lithium salt lake (saline lake) development project in Argentina, promoted by POSCO Holdings.

This project involves developing a lithium saline lake located in Salta Province, Argentina, to secure a stable supply of lithium, a key mineral for secondary batteries. It plans to produce a total of 50,000 tons of lithium by 2024 and supply it to domestic battery manufacturers and others.

K-sure stated, "This financial support is significant as it provides financing to strengthen new industry competitiveness, including securing a stable supply chain for our companies' key minerals and establishing a secondary battery value chain."

For the promotion of this project, it is expected that domestic small and medium-sized enterprises and mid-sized companies will participate as key partners in local factory construction and equipment processes, expanding opportunities for our companies to enter overseas markets.

K-sure President Inho Lee said, "We will do our best to enable our companies to lead the global battery and electric vehicle markets through financial support for securing key raw materials such as lithium, nickel, and cobalt."

Argentina lithium salt lake

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