Mineral Resources Limited (ASX: MIN) has executed the formal Investment Agreement and Shareholders Agreement with POSCO Holdings Inc for the acquisition of 30% of MinRes’ operational lithium business under a new incorporated joint venture (LithCo), which will hold MinRes’ existing 50% ownership of the Wodgina and Mt Marion lithium mines.
The execution of the Investment Agreement and Shareholders Agreement follows the binding agreement on key terms announced on 12 November 2025 and represents a critical milestone in progressing this transaction to completion.
Completion of the transaction remains subject to execution of further long-form agreements, offtake and marketing documentation as well as other customary conditions precedent such as regulatory approvals, including from the Foreign Investment Review Board and merger clearances.
MinRes now expects the transaction to complete in the first half of the 2027 financial year. The revised timeline reflects the time required to obtain regulatory approvals and implement a corporate restructure to establish joint venture ownership, which is a condition of completion.
Mineral Resources managing director Chris Ellison said:
“We are pleased to execute the key transaction documents with POSCO Holdings, a critical step in progressing this transaction.
“We look forward to working with POSCO Holdings to finalise all outstanding matters and bring this to completion as soon as possible.
“This partnership continues to represent a landmark investment by a major Korean company into Australian lithium, and we remain committed to ensuring that Wodgina and Mt Marion reach their full potential as two of the world’s best hard rock lithium assets.”
POSCO Holdings president Ju-Tae Lee added:
“This partnership is highly meaningful in that it combines Mineral Resources’ mining and operational capabilities with POSCO Holdings’ downstream processing expertise, contributing to the stabilisation of the global battery materials supply chain.
“Based on the strong mutual trust between the two companies, we will continue to strengthen our long-term partnership in the global lithium market.”
