- POSCO International Rare Earth Supply Chain expands through Brazil partnership.
- Rare earth sourcing supports global electric vehicle magnet production.
POSCO International, the trading business of South Korea's POSCO Group, has signed a memorandum of understanding (MOU) with Meteoric Resources to strengthen the supply of rare earth feedstock and establish a more resilient supply chain. Under the agreement, POSCO International intends to source intermediate rare earth materials produced at Meteoric Resources' Caldeira Project located in the state of Minas Gerais, Brazil, supporting the company's long-term strategy to secure critical raw materials.
The intermediate materials sourced from the Caldeira Project will be used in POSCO International's developing separation and refining business. Through these operations, the company plans to produce rare earth oxides that will be supplied to permanent magnet manufacturers in South Korea and international markets. The initiative is designed to enhance the availability of processed rare earth materials required for advanced industrial and automotive applications while reinforcing supply chain stability.
POSCO Group has already established multiple agreements with global automakers across North America and Europe to supply rare earth permanent magnets used in electric vehicle traction motors. By incorporating raw materials sourced from Brazil into its production network, the Group aims to improve supply security while supporting the growing demand for high-performance permanent magnets used in next-generation electric mobility.
POSCO International and Meteoric Resources Partnership Overview
The collaboration brings together upstream rare earth production and downstream processing capabilities to strengthen the overall value chain.
| Category | Details |
|---|---|
| Partners | POSCO International and Meteoric Resources |
| Agreement | Memorandum of Understanding (MOU) |
| Source Project | Caldeira Project, Minas Gerais, Brazil |
| Objective | Secure rare earth feedstock and strengthen supply chain |
| End Use | Rare earth oxides and permanent magnets for EV traction motors |
Strengthening the EV Materials Value Chain
The agreement supports POSCO Group's strategy of integrating raw material sourcing, refining, and final product supply into a unified value chain. By securing reliable rare earth feedstock from Brazil and processing it into rare earth oxides, the company intends to support permanent magnet production for global automotive customers. This vertically integrated approach is expected to enhance competitiveness while improving the resilience of the supply chain serving electric vehicle manufacturers in North America, Europe, South Korea, and other international markets.
Frequently Asked Questions
What is the purpose of the agreement between POSCO International and Meteoric Resources?
The memorandum of understanding enables POSCO International to secure intermediate rare earth materials from Meteoric Resources' Caldeira Project in Brazil. These materials will support the company's separation and refining operations to produce rare earth oxides for permanent magnet manufacturers. The partnership also strengthens POSCO Group's integrated supply chain strategy, supporting the production of permanent magnets used in electric vehicle traction motors while improving long-term raw material security and supply chain competitiveness.
Click above to visit the official source.
Discussion
Join the conversation.