South Korea’s largest steelmaker, POSCO Holdings Inc., announced Wednesday that it had signed a Memorandum of Understanding (MOU) with Invest Alberta Corporation (IAC) to pursue a project involving the extraction of lithium from oil-field brine in Alberta, Canada. The MOU was signed in Seoul and a signing ceremony was held at the Canadian Embassy in the city.
POSCO plans to invest in oil-field brine mining sites that are optimal for extracting lithium and to partner with local companies. The IAC has agreed to provide administrative support, such as tax benefits and other information, for the project.
Oil-field brine is a type of water found around the Earth’s strata where petroleum is stored. It contains minerals, such as lithium, which is used in the production of secondary batteries. Alberta is the leading region in Canada for petroleum and shale gas industries and is home to one of the largest reserves of lithium stored in oil-field brine in the world.
odissy@yna.co.kr
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