Posco prioritizes HBI in Australia
Published: 27 Feb. 2023, 23:06
![Head of Purchasing and Investment Division (Executive Vice President) Kim Yong-soo and Roger Cook, deputy premier of Western Australia discussed ways to strengthen their partnership for Posco’s hot briquetted iron project. Suh Ji-won, head of Raw Materials Office 1 and senior vice president, left, Roger Cook, deputy premier of Western Australia, center, and Kim Yong-soo, head of the Purchasing and Investment Division and executive vice president. [POSCO]](https://koreajoongangdaily.joins.com/data/photo/2023/02/27/53f9f3b3-298c-4e34-8450-5cc26965a188.jpg)
Head of Purchasing and Investment Division (Executive Vice President) Kim Yong-soo and Roger Cook, deputy premier of Western Australia discussed ways to strengthen their partnership for Posco’s hot briquetted iron project. Suh Ji-won, head of Raw Materials Office 1 and senior vice president, left, Roger Cook, deputy premier of Western Australia, center, and Kim Yong-soo, head of the Purchasing and Investment Division and executive vice president. [POSCO]
Posco is working hard to secure low-carbon steel materials in Australia.
As a part of its strategy to achieve 2050 carbon neutrality, Posco is pushing to introduce electricity for phased conversion to achieve a carbon-neutral production system. A stable supply and demand of high quality hot briquetted iron (HBI) is important. HBI is a processed product of direct reduced iron (DRI) in an oval briquettes shape that is made after removing oxygen from iron ore.
Posco Group Chairman Choi Jeong-woo met Mark McGowan, premier of Western Australia on Jan. 30 and discussed ways to develop future businesses including hydrogen and core mineral investment through cooperation.
Head of Purchasing and Investment Division (Executive Vice President) Kim Yong-soo visited Western Australia for three days from Feb. 8 to the 10, requesting active cooperation and support for Posco’s HBI project with key government officials.
Posco is speeding up its HBI project in Australia and has been conducting feasibility studies since last year. In May last year, Posco applied to the government of Western Australia to lease the site of the Boodarie Strategic Industrial Complex to promote the HBI project. The West Australian government approved the request at the end of December and the HBI project is set to be initiated in earnest.
Posco thanked the Western Australian government for approving the Boodarie Strategic Industrial Complex, while requesting continued partnership including rapid licensing approval and infrastructure support for the project’s success.
“Western Australia is a strategically significant area for procuring raw materials including hydrogen, lithium and nickel as well as HBI,” said Kim. “Posco will lead the green steel era in Western Australia by promoting stable and long-term HBI projects, while contributing to revitalizing the local economy and advancing local industries,” he added.
“As Posco’s green steel project in Western Australia is critical for global carbon reduction, Western Australia will actively support and look forward to the success of the project through mutual cooperation,” said Roger Cook, deputy premier of Western Australia.
BY PARK YE-EUN [[email protected]]
with the Korea JoongAng Daily
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