Posco Secures $700M Credit Line for Lithium Expansion in Argentina
Posco Holdings (PKX) has secured a $700 million liquidity facility from IDB Invest, the private sector arm of the Inter-American Development Bank. The funding will be used to expand lithium production at its Sal de Oro project located in Argentina. This financing marks a significant step for Posco as it aims to increase its lithium output and strengthen its position in the growing electric vehicle battery market. IDB Invest's involvement underscores confidence in the project’s viability and sustainability, which could have broader implications for Argentina's role in global lithium supply chains.
Tickers: $PKX
Topics: Expansion Funding Lithium Production