In order to reach carbon neutrality by 2050, South Korean POSCO is actively seeking opportunities to develop low-carbon steel raw materials in Australia.
POSCO focused on the introduction of an electric furnace to reach carbon-neutral production. Among them, high-quality hot briquetted iron (HBI) is an important raw material for producing high-quality steel through an electric operation.
POSCO has planned the HBI-producing project in Australia and has evaluated the feasibility since last year. Also, the Western Australian government approved the application from POSCO for a land lease in the Boodarie Strategic Industrial Area.
