Australia's Pilbara Minerals, POSCO form JV for South Korean lithium plant

(Reuters) - Australia's Pilbara Minerals Ltd on Tuesday executed a binding terms sheet with POSCO to form a joint venture (JV) in South Korea to develop and operate a lithium hydroxide and carbonate chemical conversion facility.Lithium producer Pilbara will initially hold a 21% interest in the venture with an option to increase to 30%. An existing offtake agreement for spodumene concentrate, a key mineral for electric vehicles, will be assigned to the JV.The agreement comes after Pilbara in..