浦项集团与巴西Meteoric签署稀土供应链MOU

POSCO Group Partners With Brazil to Strengthen Rare Earth Supply Chain
POSCO International Signs Supply Chain MOU With Local Rare Earth Firm
Diversifying Permanent Magnet Value Chain Based on Brazilian Rare Earths
Reinforcing 'Triple Core' Resource Supply Chain Strategy
Finance
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Published
2026.07.29. 11:26:57
By Jung Hye-jin
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Chang In-hwa (from left), Chairman of POSCO Group; Lee Kye-in, President of POSCO International; Kim Jung-kwan, Minister of Trade, Industry and Energy; Stuart Gale, CEO of Meteoric Resources; and Marcelo de Carvalho, Brazil Representative of Meteoric Resources, pose for a photo at the MOU signing ceremony. Photo courtesy of the Ministry of Trade, Industry and Energy
POSCO Group is accelerating efforts to secure and diversify its critical mineral supply chain by joining hands with a Brazilian rare earth developer.
POSCO International signed a strategic memorandum of understanding (MOU) with local resource developer Meteoric Resources on the 28th (local time) at the Vanguarda Hall of the Grand Hyatt in Sao Paulo, Brazil, to establish a stable supply of rare earth raw materials and build a supply chain.
The agreement was reached as part of critical mineral cooperation between the two countries at the "Korea-Brazil Business Forum," held to mark President Lee Jae-myung's state visit to Brazil.
The signing ceremony was attended by Minister of Trade, Industry and Energy Kim Jung-kwan, POSCO Group Chairman Chang In-hwa, POSCO International President Lee Kye-in, and Meteoric Resources CEO Stuart Gale.
The two sides agreed to cooperate closely across the entire project, including negotiations on key commercial terms aimed at concluding a long-term rare earth purchase agreement, equity investment linked to the long-term purchase agreement, and the signing of a final contract.
Based on this, Meteoric Resources will supply POSCO International with rare earth intermediate materials to be produced from the Caldeira Project it is pursuing in the state of Minas Gerais, Brazil. POSCO International plans to produce rare earth oxides through its own separation and refining business currently under construction, and supply them stably to major permanent magnet manufacturers at home and abroad.
"With the synergy between POSCO Group's integrated rare earth value chain encompassing raw material procurement, separation and refining, and permanent magnets, and Brazil, which boasts the world's second-largest rare earth reserves, we will contribute to stabilizing the domestic supply chain of key materials essential to the new mobility industry and enhance the group's future growth engine," Chairman Chang emphasized.
POSCO Group is accelerating its push into the global market by successively signing contracts to supply rare earth permanent magnets for electric vehicle drive motors with global automakers in North America and Europe. It plans to maximize the competitiveness of its value chain—spanning from raw material procurement to final product supply—by linking raw materials sourced from Brazil with the global automaker supply chain.
Earlier this month, POSCO Group announced its "Triple Core" strategy, centered on industrial resources (steel), strategic resources (critical minerals), and energy resources (LNG, etc.). In the strategic resources field in particular, the group has secured the initiative in the resource competition through preemptive investments in premium resources in Argentina, Australia, and elsewhere. It is expanding its full-cycle value chain for critical minerals, including rare earths, having also signed a critical mineral cooperation MOU with Mongolia this month.
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Original reporting by
Jung Hye-jin
for Seoul Economic Daily.
AI-translated from Korean. Quotes from foreign sources are based on Korean-language reports and may not reflect exact original wording.
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