POSCO develops new way to extract lithium from salt water

By Kim Tae-jong

POSCO, the nation’s leading steelmaker, announced Thursday that it has developed a new technology to extract lithium from salt water, adding it can shorten the traditional extraction time to one month from 12.

It came as a big breakthrough at a time that the world’s demand for lithium is growing. Mobile phones, laptops, electric cars and many other devices rely on lithium ion batteries and the battle for lithium resources is expected to intensify in the next few years.

POSCO’s Research Institute of Industrial Science & Technology (RIST) said its researchers have developed a new technology to directly extract the material from salt water through a chemical reaction and have also succeeded in producing five kilograms of lithium from 1,000 liters of salt water in its pilot plant in Pohang, South Gyeongsang Province.

“The new method allows us to shorten the extraction time to one month and increase the extraction rate to 80 percent from the current 50,” an official from the company said.

It is also possible to extract other raw materials separately such as magnesium, calcium, potassium and boron in the course of obtaining lithium, which can be used in other industrial sectors, she said.

The steelmaker has applied for 30 patents for the technology at home and abroad.

POSCO has been actively engaged in various projects to develop technology for extracting lithium and secure lithium reserves, forecasting global consumption would grow 20-fold in 40 years to 2 million tons.

Some 90 percent of lithium resources are believed to be buried in South America, and Japan and Korea are competing hard over the international reserves.

POSCO signed a preliminary deal with a Peruvian firm owning a lithium-rich salt lake in Chile to jointly develop the key metal last year. The company is also in talks with Bolivia, another lithium-rich country.

Researchers from RIST also demonstrated the procedure during an explanatory session Thursday, which was accompanied by POSCO Vice President Kwon Oh-joon; Bolivia's Minister for Mining Luis Alberto Echazu; Rep. Lee Sang-deuk of the ruling Saenuri Party; Korea Resources Corporation President Kim Shin-jong; and Korea Institute of Energy Technology Evaluation and Planning President Lee Joon-hyun.

The Bolivian minister expressed his thanks for the opportunity to participate in the event and said he will further discuss the extraction of lithium using POSCO’s new technology.