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Stock impact report

Posco to buy stake in Australian graphite miner [Yahoo! Finance]

POSCO Holdings Inc. American Depositary Shares (Each representing 1/4th of a share of) (PKX) 
Company Research Source: Yahoo! Finance
Posco Group owns South Korea's main battery anode producer, Posco Future M which is trying to reduce its dependence on Chinese companies which dominate the global supply of electric vehicle (EV) battery minerals including graphite. Black Rock is developing its 84% owned Mahenge Graphite Project in Tanzania which was estimated to contain up to 6m tons of natural graphite making it the world's second largest graphite reserve. Posco International, the group's trading unit plans to strengthen its ties with Black Rock to ensure it has privileged access to the Mahenge Graphite Project's output when it begins production. Posco has recently diversified its sourcing of other battery minerals, including lithium, cobalt and nickel, in line with the US government's plans to stop providing tax incentives for EVs fitted with batteries containing Chinese supplied battery minerals from 2027. Posco chairman Chang In-hwa said in a statement: “We will continue to discover projects that contribu Show less Read more
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