POSCO Argentina S.A.U. acquires NRG Metals Argentina S.A. for US$65M
On December 8, 2025, POSCO Argentina S.A.U. signed a Share Purchase Agreement and Acceptance Letter to acquire NRG Metals Argentina S.A., the wholly owned subsidiary of Lithium South Development Corporation, for US$65 million before taxes and closing costs. NRG Metals Argentina S.A. holds the Hombre Muerto North Lithium Project, including Sophia I–III and Hydra X–XI claims in Salta Province, Argentina.
The transaction is subject to approval by disinterested shareholders at Lithium South’s Annual General and Special Meeting on February 19, 2026. Upon completion, Lithium South will redeem all issued and outstanding common shares at C$0.505 per share, delist from the TSX Venture Exchange, and proceed with dissolution.
POSCO Argentina S.A.U. is the Argentinian subsidiary of POSCO, a global steel and energy conglomerate headquartered in South Korea.
Lithium South Development Corporation is a Canadian-listed mineral exploration company focused on lithium projects in Argentina.
McCarthy Tétrault LLP advised POSCO Argentina S.A.U. with a team led by Shawn Doyle that included David Choi (M&A), Joey Levesque (Business), Michael Caldecott and Madison Bruno (Competition/Antitrust).
