As part of POSCO’s strategy to achieve carbon neutrality by 2050, POSCO is actively engaged in activities to secure low-carbon steel raw materials in Australia. On the 30 January 2023, Western Australia Premier Mr Mark McGowan visited POSCO and discussed with Mr. Jeong-woo Choi, CEO of POSCO Group, about future new business cooperation, such as investment cooperation in hydrogen and core minerals.Then, Mr. Yong-soo Kim, POSCO’s Head of Purchasing and Investment Division, visited Western Australia during 8-10 March 2023 and asked for active cooperation and support for POSCO’s HBI project in Western Australia through follow-up working-level meetings with key government officials.POSCO has established a plan to produce HBI in Australia in 2021 and has been conducting feasibility studies. In May 2022, POSCO applied for a land lease in the Boodarie Strategic Industrial Area to the Western Australian government to promote the HBI project in Western Australia. At the end of December 2022, the site allocation was approved by the Western Australian government and as the site is secured, the full-scale project is expected to be carried out soon.Hot Briquetted Iron is made by molding Direct Reduced Iron into a briquette shape. It is an essential raw material for producing high-quality steel during electric operations. POSCO is moving forward with the introduction of an electric furnace for a phased transition to a carbon-neutral production system, so a stable supply and demand of high-quality HBI is pivotal
As part of POSCO’s strategy to achieve carbon neutrality by 2050, POSCO is actively engaged in activities to secure low-carbon steel raw materials in Australia. On the 30 January 2023, Western Australia Premier Mr Mark McGowan visited POSCO and discussed with Mr. Jeong-woo Choi, CEO of POSCO Group, about future new business cooperation, such as investment cooperation in hydrogen and core minerals.Then, Mr. Yong-soo Kim, POSCO’s Head of Purchasing and Investment Division, visited Western Australia during 8-10 March 2023 and asked for active cooperation and support for POSCO’s HBI project in Western Australia through follow-up working-level meetings with key government officials.POSCO has established a plan to produce HBI in Australia in 2021 and has been conducting feasibility studies. In May 2022, POSCO applied for a land lease in the Boodarie Strategic Industrial Area to the Western Australian government to promote the HBI project in Western Australia. At the end of December 2022, the site allocation was approved by the Western Australian government and as the site is secured, the full-scale project is expected to be carried out soon.Hot Briquetted Iron is made by molding Direct Reduced Iron into a briquette shape. It is an essential raw material for producing high-quality steel during electric operations. POSCO is moving forward with the introduction of an electric furnace for a phased transition to a carbon-neutral production system, so a stable supply and demand of high-quality HBI is pivotal
