Posco

POSCO, a South Korean company primarily known for steel production, has been actively expanding its presence in Canada's lithium-ion battery supply chain. In partnership with General Motors, POSCO Future M (a subsidiary of POSCO Holdings) formed a joint venture called Ultium CAM to build a cathode active material (CAM) production facility in Bécancour, Quebec. This facility, representing an investment of over C$600 million, is scheduled to begin production in the first half of 2025 and is expected to create approximately 200 jobs. The project aims to supply General Motors' expanding battery production in North America, producing high-nickel cathode materials for GM's electric vehicle batteries. Additionally, POSCO Holdings has signed a memorandum of understanding with Invest Alberta Corporation to explore lithium investment opportunities in Alberta, potentially including the exploration, development, and commercialization of lithium from oil-field brine.