POSCO opens minerals R&D center in Australia

SEOUL, May 30 (Yonhap) -- POSCO Holdings, South Korea's leading steelmaker, said Friday it has opened a resource-focused research center in Australia to help secure future growth drivers through local partnerships.

The Australia Critical Minerals R&D Lab, the first overseas facility of its kind established by a South Korean steelmaker, aims to enhance technological competitiveness in steelmaking, secondary battery materials and rare earth elements, the company said in a press release.

"The R&D center will serve as a strategic hub that combines Australia's abundant resources with POSCO Group's materials technology to strengthen the competitiveness of our key businesses, including raw material processing and securing critical minerals," POSCO Holdings CEO Chang In-hwa said.

The center will focus on developing technologies for cost-effective low-carbon steelmaking, efficient processing of lithium and nickel, and collaborative projects with local colleges, resource companies and research institutions, according to the company.

Potential partners include Curtin University, the Commonwealth Scientific and Industrial Research Organization (CSIRO), the Minerals Research Institute of Western Australia (MRIWA) and major mining companies, such as BHP and Rio Tinto.

POSCO also said it plans to utilize local networks to explore investment opportunities in promising global mines in Australia.

kyongae.choi@yna.co.kr
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