Is another signal of rising lithium prices? South Korea's POSCO Iron & Steel invested $765 million to acquire 30% of Australian mining company MinRes's lithium business.

According to the Wisdom Financial APP, South Korea's Posco Holdings will acquire a 30% stake in the lithium business of Australian mining company Mineral Resources Limited (MinRes), thereby gaining partial ownership of two mines in Western Australia in order to access key metal resources for electric vehicle batteries. This $1.2 billion Australian dollar (approximately $7.65 billion USD) deal will establish a joint venture between Posco Holdings and MinRes. In a statement on Wednesday, MinRes said that Posco Holdings will receive an equal share of lithium concentrates from the two mines.