POSCO on Thursday said it was nearing commercialization of a new technology that can efficiently and quickly extract high-quality lithium directly from raw materials.
The nation’s largest steelmaker said its Research Institute of Industrial Science and Technology has been perfecting the technology. Lithium is a key material in high-capacity rechargeable batteries used to power mobile phones, laptop computers and electric vehicles. Lately, a rise in the demand for environmentally friendly vehicles has been fueling the demand for lithium.
As the largest producer of lithium rechargeable batteries, South Korea imports well over 10,000 tons of the material every year from countries such as Chile, Bolivia, Argentina and China.
POSCO said it has started work in June to build a fully operational pilot plant in Argentina’s Jujuy province. Once completed, it will produce up to 200 tons of lithium per year, with full-fledged production expected to start in 2016.
