The memorandum of understanding has been extended from 30 June 2011 to 31 August 2011.
Li3 Energy CEO Luis Saenz said Li3 Energy’s objective is to align the companies in a manner that provides Li3 with capital while minimizing dilution and still providing POSCO with a range of possible involvements including both financial and technological exchanges.
Li3 Energy is a Peru-based global exploration company in the lithium and minerals sector.
POSCO is a diversified company, with operations in energy, chemicals and materials.
The company engages in the manufacture and sale of various steel products in South Korea and internationally.
POSCO offers steel for general structures and welded structures used in steel structures, bridges, ships and automobiles; atmospheric corrosion resistant steel for use in the production of containers, special vehicles and buildings, hot rolled steel used in automobile frames and wheels; and hot rolled steel for special applications.
POSCO also provides cold rolled sheets used in cold-rolled products.
