POSCO announces $1.16 billion JV with China’s CNGR on battery materials

SEOUL (Reuters) – South Korea’s Posco Holdings said on Wednesday it has signed a joint venture agreement worth around 1.5 trillion won ($1.16 billion) with Posco Future M and China’s CNGR to produce precursors and nickel for batteries.

($1 = 1,293.0200 won)

(Reporting by Hyunsu Yim; Editing by Ed Davies)

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