Posco International Corp

Meteoric Resources has signed a non-binding memorandum of strategic partnership with POSCO International to advance the Caldeira Rare Earth Project in Brazil. Under the agreement, POSCO could receive up to 30% of Caldeira's rare earth material for up to seven years, with pricing initially referenced to the Asian Metal Index. The partnership also contemplates POSCO's support for Meteoric's financing, including possible equity participation and assistance in seeking funding from Korean Export Credit Agencies such as the Export-Import Bank of Korea and Korea Trade Insurance. Both companies intend to share technology and industry practices to bolster Brazil's downstream rare earth sector, and metallurgical testing indicates Caldeira's rare earth carbonate can be processed by POSCO without extra refining steps. The memorandum remains subject to due diligence, internal approvals, and definitive agreements.

South Korea's largest bank, KB Kookmin Bank, is collaborating with JPMorgan Chase to launch a blockchain-based cross-border payment service using JPMorgan's Kinexys platform. The service will handle corporate dollar payments and does not require customers to own cryptocurrency or manage a wallet. Separately, South Korean trading giant POSCO International and LG CNS are testing tokenized trade receivables on the Injective network. Both initiatives reflect a trend of major institutions adopting blockchain technology as underlying infrastructure without direct exposure to decentralized tokens.

POSCO International Corporation, a subsidiary of POSCO Holdings, has issued its first-ever global bond, raising $500 million in a five-year offering. The single-tranche bond was priced at 90 basis points over the five-year U.S. Treasury yield, tightening 30 basis points from initial guidance after attracting strong investor demand. The offering was four times oversubscribed, with total orders reaching approximately $2 billion, despite heightened volatility in global financial markets. Proceeds will be used to repay existing foreign-currency borrowings and for general corporate purposes. Asian investors accounted for 67% of allocations, followed by the United States at 27% and Europe at 6%, with asset managers representing 65% of investors.

ReElement Technologies and Posco International have formed a $200 million joint venture to develop the first integrated rare earth separation and permanent magnet production facility in the United States. The initiative aims to establish a secure, non-China supply chain for critical industries including electric vehicles, defense, and renewable energy, with plans to reach an annual separation capacity of 3,000 metric tons by 2028 and double that by 2030. The partnership combines Posco's industrial market expertise with ReElement's proprietary purification technology to create a closed-loop system using both primary and recycled feedstock, seeking to reduce US dependence on Chinese refining which currently controls over 90% of global permanent magnet production. The companies are evaluating potential US site locations for the modular and scalable project, which is designed to meet surging demand from the North American automotive and advanced technology sectors.