SEOUL, Aug. 19 (Yonhap) -- POSCO Group, South Korea's leading steelmaker, said Wednesday it will collaborate with Chinese cathode-materials producer Ningbo Ronbay New Energy on lithium supply and spent-battery recycling.

POSCO inked the strategic framework agreement with Ronbay to supply the Chinese company with hard-rock lithium from Australia and brine lithium from Argentina, while exploring business opportunities in spent-battery recycling, the company said in a press release.

Through the partnership, POSCO said it will leverage its end-to-end lithium production value chain, from raw materials to finished products, including lithium recovered through spent-batteries.

The partnership will also enable POSCO to supply battery-grade lithium to China, the world's largest producer of battery materials, the company said.

kyongae.choi@yna.co.kr

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