POSCO completes lithium hydroxide plant in Argentina

POSCO Holdings Inc. said on Sunday it completed a lithium hydroxide plant in Argentina, boosting its capacity to produce electric vehicle (EV) battery materials.

The plant in Güemes, Salta Province, can produce 25,000 tons annually.

POSCO Holdings extracts lithium phosphate from a brine lake in Salta processes it at 4,000 meters altitude, then converts it to lithium hydroxide at the new lowland facility.

The company is investing 1 trillion won ($741 million) in a second 25,000-ton plant nearby and plans a third 50,000-ton facility.

In South Korea, POSCO Holdings operates a 21,500-ton plant in Gwangyang, South Jeolla Province,  and expects to complete another of the same size this year.

When all projects are completed as planned, POSCO Holdings' total production capacity will reach 143,000 tons annually, both domestically and abroad.

Write to Sang Hoon Sung at uphoon@hankyung.com