US-listed Li3 Energy has executed an agreement with POSCO Canada, a subsidiary of steel producer POSCO, to fund development at Li3’s Maricunga lithium property.
South-Korea based POSCO, which is evaluating lithium projects globally, will invest up to $18m. in Li3’s flagship project in northern Chile.
“We began earnest discussions in March of this year and to consummate this transaction in less than six months,” said Luis Saenz, CEO of Li3.
TSX-listed Canada Lithium has reported...