By Rhiannon Hoyle

Mineral Resources said Wednesday it has agreed to sell part of its lithium business to Posco Holdings for $765 million, a move it says will help fund future growth and allow it to better respond to increasing demand for Australian lithium.

The miner said South Korea's Posco will acquire 30% of its operational lithium business under a new joint venture that will hold Mineral Resources's 50% stakes in the Wodgina and Mt Marion lithium mines in Western Australia.

It said it will continue to be the operator of both mines under existing agreements with its joint venture partners -- Albemarle at Wodgina and Jiangxi Ganfeng Lithium at Mt Marion.

Posco will receive spodumene concentrate in proportion to its 30% interest in the joint venture that will underpin its future investment in new downstream processing facilities, Mineral Resources said.

The agreement has been approved by directors of both Mineral Resources and Posco.

Mineral Resources said it expects the deal to be completed in the first half of 2026. "MinRes expects to use the proceeds to repay external debt, fortify its balance sheet and position the company for its next phase of growth," the company said.

Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com

(END) Dow Jones Newswires

November 11, 2025 17:08 ET (22:08 GMT)

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