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POSCO to Buy 15 pct Stake in Australia's Black Rock Mining


POSCO to Buy 15 pct Stake in Australia’s Black Rock Mining
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POSCO’s headquarters in Seoul. (Yonhap)
SEOUL, Dec. 17 (Korea Bizwire) – POSCO, the world’s fifth-largest steelmaker by output, said Thursday it has agreed to buy a 15 percent stake in Black Rock Mining for US$7.5 million.
The deal will pave the way for POSCO to secure graphite fines, a material required to make anodes, according to the steelmaker.
Still, POSCO said no specific date has been set for the formal signing of an offtake agreement with the Australia-based graphite producer.
An anode is a key material in a battery that preserves lithium coming from the cathode and generates electricity while releasing lithium. ....

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