[Alpha Biz=(Chicago) Reporter Kim Jisun] POSCO International has also completed the completion of POSCO Group's secondary battery material business value chain by securing natural graphite used in batteries.

POSCO International announced on the 19th that it has signed a long-term supply contract for natural graphite for secondary battery batteries with Paru Graphite in Tanzania, a subsidiary of Australian mining company Black Rock Mining. POSCO International will invest $ 10 million to receive a total of 750,000 tons of natural graphite for about 25 years.

Paru Graphite has a Mahenji graphite mine in Tanzania. This mine boasts the world's second largest graphite reserves. Currently, the life span of the Mahenji mine is 25 years, and POSCO International plans to supply natural graphite supplied during this period to POSCO FutureM, the group's secondary battery business company.

With the rapid growth of the electric vehicle market, the demand for graphite is also growing rapidly. In 2035, the demand for natural graphite is expected to reach 6.5 times the world's supply last year.

 

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