World class partners
Queensland Pacific Metals has established business relationships with LG Energy Solution (LGES) and POSCO to supply advanced battery materials produced and refined at the company’s Townsville Energy Chemicals Hub (TECH) Project.
In 2021, LGES and POSCO became shareholders of Queensland Pacific Metals and signed binding, long-term offtake agreements to purchase nickel and cobalt produced at the TECH Project. This was a major milestone for Queensland Pacific Metals and the company looks forward to delivering into these agreements when production commences.
About LGES and POSCO
LGES is a leading global battery manufacturer.
Based on its 30 years of R&D experience, the company delivers advanced batteries, infused with cutting-edge technologies, to Electric Vehicles, Energy Storage Systems and Mobility & IT applications, across the world.
LG Energy Solution: “We believe the TECH Project will deliver sustainable nickel and cobalt production that is in line with LGES’ operating philosophy. And our proactive investments in the supply chain such as this will ultimately play a role in further satisfying our customers.”
POSCO is Korea’s largest fully integrated steel producer and one of the world’s largest steel producers.
In 2020 POSCO produced ~40.6Mt tons of crude steel and diversified line of steel products. POSCO also engage in businesses that complement steel manufacturing operations as well as seeking investment opportunities to diversify its businesses. POSCO’s affiliate companies are involved in a wide range of industries including chemicals, trading, engineering & construction and energy.
POSCO: “We are delighted to co-invest with LG Energy Solution in Queensland Pacific Metals. We look forward to building our relationship with QPM and assess other business opportunities that may arise between QPM and POSCO.”