POSCO Holdings Partners with IAC to Secure Lithium from Oilfield Brine in Alberta
By Sujeong Kim, Deal Site Reporter
POSCO Holdings has entered into a strategic partnership with Canada’s Invest Alberta Corporation (IAC) to secure lithium from oilfield brine in Alberta. The oilfield brine, which contains minerals such as lithium, is water found around geological formations where oil is present.
The business agreement was officially signed at the Canadian Embassy in Korea, with POSCO Holdings’ executive director, Gyeong-seop Lee, and IAC CEO Rick Christiaanse in attendance.
POSCO Holdings’ plans to develop the oilfield brine lithium resources in Alberta include seeking partners, identifying potential mines for lithium extraction, reviewing investments, and optimizing the commercialization process. The IAC will provide administrative support for POSCO Holdings’ investment process in Alberta, facilitate connections with local businesses, and offer information and tax benefits related to resource development.
Alberta, known for its significant oil and shale gas industry, is home to the world’s largest oilfield brine lithium reserves. Although the lithium content in oilfield brines is slightly lower compared to other sources, large reserves in the United States and Canada make it an emerging lithium resource.
Through this partnership, POSCO Holdings aims to diversify its raw material supply chain by tapping into unconventional lithium resources like oilfield brine and clay, in addition to existing sources.
During the agreement ceremony, IAC CEO Rick Christianse expressed confidence in Alberta becoming a global leader in lithium production, while POSCO Holdings’ Lee Gyeong-seop emphasized the strengthening of the company’s lithium supply chain and global market position.
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[딜사이트 김수정 기자] POSCO Holdings has begun securing lithium from oilfield brine in collaboration with Canada’s Invest Alberta Corporation (IAC). Oilfield brine is water that exists around geological formations where oil is buried, and contains minerals such as lithium.
POSCO Holdings announced the signing of a business agreement with IAC at the Canadian Embassy in Korea on the 8th, with POSCO Holdings secondary battery material business team leader (executive director) Gyeong-seop Lee and IAC CEO Rick Christiaanse in attendance.
POSCO Holdings plans to pursue the oilfield brine lithium business by seeking partners to cooperate in developing oilfield brine lithium resources in Alberta, find mines that are easy to develop lithium, review investments, and demonstrate the extraction process and optimal commercialization of lithium. in.
In this process, IAC will provide administrative support in the investment process of POSCO Holdings in Alberta, serve as a bridge with promising businesses, and provide information and tax benefits related to resource development to help smooth business progress.
Alberta leads Canada’s oil and shale gas industry, and is also in the spotlight for having the world’s largest oilfield brine lithium reserves. The lithium content of oil field brines is slightly lower than that of existing brine resources, but is emerging as a new lithium resource as large reserves are reported in the United States and Canada.
Through this agreement with the IAC, POSCO Holdings has diversified its raw material supply chain with non-traditional lithium resources such as oilfield clay and brine as well as existing lithium brine and ore.
At the agreement ceremony, IAC CEO Rick Christianse said, “I am confident that through this collaboration, Alberta, one of the world’s largest lithium deposits, will become a global leader in lithium production together with POSCO Holdings’ North American secondary battery materials business. strategy.”
Lee Gyeong-seop, head of the secondary battery material business team, said, “POSCO Holdings will strengthen its lithium supply chain and strengthen its position in the global secondary battery material market through strategic cooperation with IAC. In addition, extensive resources Alberta and POSCO Holdings’ innovative technology will combine to create “It will create opportunities for growth,” he said.
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