U.S. Dollar Slides Toward Biggest Annual Loss Since 2017 as 2026 Risks Loom 
Gold Prices Rebound in Europe as Geopolitical Tensions and Fed Outlook Support Bullion 
Elon Musk’s xAI Expands Supercomputer Infrastructure With Third Data Center to Boost AI Training Power 
Oil Prices Slip Slightly as Markets Weigh Geopolitical Risks and Supply Glut Concerns 
Samsung Electronics Secures Annual U.S. Licence for China Chip Equipment Imports in 2026 
U.S. Stock Index Futures Steady as Markets Await Fed Policy Clues in Holiday-Thinned Trade 
China Manufacturing PMI Rebounds in December, Offering Boost to Economic Growth Outlook 
Oil Prices Rise as Ukraine Peace Talks and Middle East Tensions Stir Supply Concerns 
Anghami Stock Soars After Strong H1 2025 Results, Revenue Nearly Doubles on OSN+ Integration 
China’s Iron Ore Buyer Pressures Mining Giants as New Supply Shifts Market Power 
China’s LandSpace Takes Aim at SpaceX With Reusable Rocket Ambitions 
ByteDance Plans Massive AI Chip Spending Boost as Nvidia Demand Grows in China 
Lockheed Martin Secures Nearly $500 Million in U.S. and Allied Defense Contracts 
BP’s Castrol Stake Sale Raises Debt Relief Hopes but Sparks Cash Flow Concerns 
Gold Prices Ease After Record Highs as Dollar Firms, Broader Bullish Outlook Intact 
POSCO, the South Korean steelmaker, is expanding to become one of the top lithium suppliers in the world. It is building a new plant. The company chose Argentina to be the location for its new factory.
POSCO is hoping it will be able to achieve its goal of becoming one of the world’s best lithium makers and suppliers by the year 2030. The company has reserved $830 million and directed this fund to the construction of its new facility in Argentina.
The plant will be extracting lithium hydroxide from a salt lake, so the building is set to rise near the Salar del Hombre Muerto salt lake in the northwestern part of the said country. According to The Korea Economic Daily, POSCO revealed on Dec. 16, Thursday, that its board of directors gave the go signal for the investment plan.
This is said to be the steelmaker’s first huge investment since announcing last week that it will transition into a holding business structure. The construction in Argentina is set to begin some time next year.
By 2024, POSCO’s plant is expected to extract 25,000 tons of lithium hydroxide per year. This amount is sufficient enough to make 600,000 electric vehicle batteries. In the following years, the company is planning to double the plant’s capacity.
In any case, the $830 million budget already includes expected expenses for the construction as well as the initial operating expenses. The salt lake was acquired by POSCO in 2018 for $280 million. The body of water measures 17,500 hectares and contains 13.5 million tons of lithium reserves which were estimated to be worth ₩35 trillion.
Once POSCO starts the lithium extraction in Argentina, it will become the only Korean company to produce lithium from saltwater, used batteries, and ores. Lithium hydroxide is taken out from saltwater and used with high-nickel cathode material to make batteries for EVs.
Finally, Yonhap News Agency reported that the material that POSCO will be able to extract from the Argentinian saltwater would be able to make batteries for a total of 370 million electric cars. In its home ground, the company is also laying out plans to boost its annual lithium production capacity.
