Posco International, the trading and energy arm of Posco Group, has announced a $40 million contract with Australian mining company Black Rock Mining to secure natural graphite, a crucial material for secondary batteries. The signing ceremony took place in Perth, Australia, on the sidelines of the joint annual meeting between the Australia-Korea Business Council and the Korea-Australia Business Council. The event was attended by high-profile figures from both countries, including Korea's Trade Minister Cheong In-kyo and Australia's Resources Minister Madeleine King. With this agreement, Posco Group now holds a 19.9 percent stake in Black Rock Mining's Mahenge Mine in Tanzania, and plans to double the total supply of graphite with an additional plant to be operational in 2026. Posco International's CEO, Lee Kye-in, emphasized that the contract aims to establish stable supply chains for graphite and includes global sales rights for the material, which the company plans to leverage to expand its graphite business. Posco Group Chairman Chang In-wha expressed the group's commitment to exploring new business opportunities that enhance the global competitiveness of South Korea's key industries, such as metals and secondary battery materials, utilizing its global network and diverse industrial portfolios to build such supply chains. These developments signify a significant step for Posco Group's expansion and diversification within the global market.