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Derek Rose

MinRes sells lithium stake to Korean company for $1.2b

MinRes lithium Mineral Resources POSCO South Korea

South Korea's POSCO is buying a 30 per cent stake in Mineral Resources' two lithium projects. (Marion Rae/AAP PHOTOS)

Mineral Resources is selling down its stake in two WA lithium mines to a Korean steelmaker for $US765 million ($1.2 billion), in a move the company's chairman says is significant for the entire industry.

POSCO Holdings is acquiring 30 per cent of Mineral Resources' half-stake in the Wodgina and Mt Marion lithium mines, which MinRes operates as part of a joint venture with Albemarle at Wodgina and China's Jiangxi Ganfeng Lithium at Mt Marion.

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