South Korean steelmaker Posco (KRX:005490) signed a memorandum of understanding with the Korea Institute of Geoscience and Mineral Resources to co-develop core mineral technologies, Posco said Monday.

The agreement aims to boost cooperation in AI-driven mineral exploration, extraction and recycling technologies, low-grade resource utilization, and global network and talent exchange, the release said.

Shares of Posco fell more than 1% in recent trade on Tuesday.