Copper $ 5.89 / lb 1.42%
Brent Crude Oil $ 63.02 / bbl 0.56%
Palladium $ 1874 / ozt 2.40%
Crude Oil $ 58.82 / bbl 0.72%
Natural Gas $ 3.149 / Btu -7.65%
Silver Futures $ 79.64 / ozt 3.87%
Aluminum Futures $ 3101.25 / ton 1.76%
Micro Gold Futures $ 4518.9 / ozt 0.66%
Micro Silver Futures $ 79.65 / ozt 3.85%
Platinum $ 2284 / ozt 0.04%
Gold Futures $ 4519 / ozt 0.66%
Go to MDC Markets

POSCO Chemical plans to invest in $633m battery materials plant with GM

Reuters | May 27, 2022 | 7:08 am Battery Metals Canada Cobalt Nickel 
General Motors Digs Into Mining Business to Lead Race for EV Metals
GM Ultium battery. Credit: General Motors

South Korea’s POSCO Chemical Co Ltd said on Friday it plans to invest in a $633 million battery cathode materials plant in Canada with US automaker General Motors Co (GM).

The South Korean materials maker said in a regulatory filing that it plans to invest $278 million through September 2024 on the joint venture plant with GM.

In December, the two companies announced their plans to form a joint venture in North America.

($1 = 1,254.9900 won)

(By Heekyong Yang and Jihoon Lee; Editing by Christopher Cushing)

Comments

Your email address will not be published. Required fields are marked *

No comments found.

More News

{{ commodity.name }}

Contest Ranking Modal BG Contest Ranking Modal BG
Contest Ranking Title

Your Rankings.

The new Mining Power Rankings are live. Vote for the sector’s leaders in each of the Large-, Small-, and Micro-Cap leagues.

Vote Now