Sydney: POSCO Holdings, South Korea's leading steelmaker, has announced the opening of a resource-focused research center in Australia to secure future growth drivers through local partnerships. The Australia Critical Minerals R and D Lab marks the first overseas facility of its kind established by a South Korean steelmaker and aims to enhance technological competitiveness in steelmaking, secondary battery materials, and rare earth elements, the company stated in a press release.
According to Yonhap News Agency, the R and D center will act as a strategic hub, combining Australia's abundant resources with POSCO Group's materials technology to strengthen the competitiveness of its key businesses. These include raw material processing and securing critical minerals, as emphasized by POSCO Holdings CEO Chang In-hwa.
The research 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. Potential partners for these initiatives 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 plans to leverage local networks to explore investment opportunities in promising global mines within Australia, further solidifying its commitment to expanding its resource capabilities and technological advancements.