Posco Future M Company, a subsidiary of South Korea’s Posco Holdings Inc, has announced plans to produce spherical graphite in South Korea. This move is aimed at strengthening the company’s battery materials supply chain and reducing its reliance on graphite supplies from China. Currently, the company imports all its graphite needs from Chinese suppliers.
To facilitate this production, Posco Future M will establish a new subsidiary named Carbon New Materials Company Ltd. This subsidiary will oversee the production of high-purity spherical graphite, a critical material used in battery anodes due to its high energy density. The company’s board has approved a significant investment of KRW 396 billion (US$ 278 million) for the construction of a production facility.
While the exact location of the plant is yet to be finalized, it is likely to be situated adjacent to the company’s existing battery anode materials production facility in Sejong, South Korea. This strategic decision will make Posco Future M the first company to produce spherical graphite in the country.
South Korea’s dependence on China for battery-grade graphite has become a cause for concern, especially following China’s introduction of export controls on rare earths that are crucial for the semiconductor industry. In response to this, Posco Future M has secured supplies of non-Chinese natural graphite from Australian companies like Syrah Resources, Black Rock Mining, Faru Graphite, and NextSource.
In addition to its expansion plans, Posco Future M is also encouraging nominations for the prestigious Just Auto Excellence Awards. These awards celebrate innovation, leadership, and impact in the automotive industry. Nominations are now open, providing companies with an opportunity to showcase their achievements and gain global recognition. Don’t miss the chance to be honored among the industry’s best – submit your nomination today.
