POSCO offtake deal for Pilbara lithium

Original article by Peter Ker
The Australian Financial Review – Page: 26 : 1-Mar-18

Pilbara Minerals has struck a deal for South Korean steelmaker POSCO to buy at least 80,000 tonnes of spodumene concentrate from its Pilgangoora lithium mine each year. The offtake agreement includes provision for POSCO to buy up to 240,000 tonnes each year, which means that the bulk of Pilgangoora’s output for the next several years has been contracted. POSCO will also acquire a 4.75 per cent stake in Pilbara Minerals for $A79.6m, while the two companies propose to establish a downstream processing joint venture in Korea.

CORPORATES
PILBARA MINERALS LIMITED – ASX PLS, POSCO, TAWANA RESOURCES NL – ASX TAW, GALAXY RESOURCES LIMITED – ASX GXY, OROCOBRE LIMITED – ASX ORE, GREAT WALL MOTOR COMPANY LIMITED, GANFENG LITHIUM COMPANY LIMITED, GENERAL LITHIUM CORPORATION, TOYOTA TSUSHO CORPORATION

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