Australia's MinRes climbs to 1-year high on $765 million lithium JV stake deal with POSCO

Mineral Resources

11/11/2025 23:50

** Shares of diversified miner Mineral Resources MIN.AX rise as much as 10.8% to A$52.00, their highest point since October 11, 2024

** Co to sell a 30% stake in part of its lithium business to South Korea's POSCO 005490.KS for $765 million

** Says deal will create a joint venture that will hold co's existing 50% ownership in Wodgina and Mt Marion lithium mines, giving POSCO indirect 15% stake in each

** MIN expects to use the proceeds from deal to repay external debt, fortify balance sheet

** Stock top gainer in ASX 200 benchmark index .AXJO

** As of last close, stock was up ~37% YTD

 (Reporting by Himanshi Akhand in Bengaluru)

 ((Himanshi.Akhand@thomsonreuters.com;))