Posco Holdings, the holding company of Korean steel giant Posco Group, said Friday it has opened a key minerals research center in Australia to secure a technological edge in advanced materials, spanning steelmaking, battery materials and rare earths.
According to the group, the new launch underscores its commitment to localization strategies, designed to not only secure raw materials cost-effectively, but also advance low-carbon processing technologies.
Located in Perth, the center will focus on developing low-carbon steelmaking and cost-reduction technologies for lithium and nickel. It will also pursue rare earths supply chain development and high-efficiency refining technologies.
This marks the first time a Korean company has established an on-site resources facility at a site sourcing raw materials, the company explained.
“Since 1971, when Posco first imported Australian iron ore, the company has built strong trust and collaboration with the Australian government and industry, emerging as a global top-tier materials company in steelmaking and battery materials,” said Chair Chang In-hwa at the opening ceremony in Perth on Friday, which was attended by executives from Australian resource companies, as well as representatives from local academic and research institutions.
“This center, combining Australia’s rich resources with the group’s materials technology expertise, will serve as a hub for advancing mineral processing technologies and securing critical minerals,” Chang added.
The new facility brings the group a step closer to the Chang’s goal of integrating technology and business strategy across the full spectrum of operations, from research and development to production and sales.
The group said it will continue exploring next-generation minerals and pursuing local mining investments through partnerships.
Since the early 1980s, Posco has worked closely with Australian partners to build supply chains for key minerals.
The company has participated in the development of the Roy Hill iron ore mine and currently operates a joint venture with Australian lithium mining company PLS to produce lithium hydroxide for secondary battery materials.
minmin@heraldcorp.com
