CALGARY — South Korean company Posco Holdings is considering investing in the exploration, development and commercialization of lithium in Alberta.
"When we make these public types of announcements, it’s a clear signal to the market that says Posco is highly interested, highly engaged," said Rick Christiaanse, chief executive of Invest Alberta. Currently, the world's biggest lithium producers are Australia, Chile and China. However, it has long been known that Alberta, a major oil-and-gas producer, is also home to one of the world's largest underground lithium deposits.
But Christiaanse said Posco brings global heft to what is still a very new and burgeoning industry for Alberta. He said the company also has the capital and expertise to invest up and down the entire lithium supply chain. Additionally, Posco has agreed to establish a joint lithium venture with Pilbara Minerals in Australia and is also constructing a commercialization plant in Korea for hard-rock lithium with a capacity of 43,000 tonnes per year.