Mineral Resources is selling down its stake in two WA lithium mines to a Korean steelmaker for $US765 million ($1.2 billion), in a move the company's chairman says is significant for the entire industry.

POSCO Holdings is acquiring 30 per cent of Mineral Resources' half-stake in the Wodgina and Mt Marion lithium mines, which MinRes operates as part of a joint venture with Albemarle at Wodgina and China's Jiangxi Ganfeng Lithium at Mt Marion.

In return for its investment, POSCO will receive 30 per cent of the spodumene concentrate produced by each mine.

POSCO plans to process that ore into the chemical lithium for supply to Korean and Western markets, where it is needed as a key component for the lithium-ion batteries that power consumer electronics and electric vehicles.

"This first-of

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