POSCO & Hancock Prospecting to build hot briquetted iron plant
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Update time : 2022-03-31 18:56:40
South Korea’s leading steel producer POSCO has signed an agreement with Australian mineral resources company Hancock Prospecting to start a feasibility study on hot briquetted iron (HBI) production in Australia, following a memorandum of understanding (MoU) signed last July for a preliminary feasibility study.
After a detailed feasibility study, POSCO and Hancock Prospecting will make a decision on the investment of the project by this year. An HBI plant will be built, and iron ore mines and pilot facilities will be developed for hydrogen production.
The two companies planned to cooperate in low-carbon steel material manufacturing, aiming to lay the groundwork for a hydrogen-based steelmaking process and carbon neutrality.
