POSCO lands $700M IDB facility for Argentina lithium push
What's the deal? Posco ArgentinaDealroom has a profile for this one. Try Dealroom →, an affiliate of South Korean steelmaker POSCO HoldingsDealroom has a profile for this one. Try Dealroom →, has secured a $700 million short-term credit facility from IDB InvestDealroom has a profile for this one. Try Dealroom →, the private-sector arm of the Inter-American Development Bank GroupDealroom has a profile for this one. Try Dealroom →. The company said it received approval on August 4 to support its lithium operations in Argentina.
What's the endgame? The financing will fund working capital for POSCO's first and second lithium brine plants at the Hombre Muerto salt flat, one of the world's major lithium-rich regions. The second plant is scheduled for completion in the second half of this year.
Why now? The approval came shortly after South Korean President Lee Jae Myung and Argentine President Javier Milei agreed to expand cooperation on critical mineral supply chains during their July 31 summit in Buenos Aires.
By the numbers: The $700 million facility ranks near the top of debt deals in Argentina's energy sector, sitting in the 98th percentile of comparable rounds all-time.
The signal: As demand for battery metals climbs, POSCO is deepening its lithium resource base in South America — and pairing corporate expansion with government-level supply-chain diplomacy to lock in access.
Read more: n.news.naver.com
Image credit: Posco Argentina
