Chairman Choi Jung-woo Flies to Australia to Strengthen Cooperation on Eco-friendly Future Materials

Strategic Cooperation MOU on Secondary Batteries with Hancock Ltd.
Meeting with Premier of Western Australia... Request for Active Support

POSCO Group Chairman Choi Jung-woo signed a strategic cooperation agreement with Hancock Prospecting's Chairwoman Gina Rinehart in Australia on the 20th (local time).

[Asia Economy Reporter Oh Hyung-gil] Choi Jung-woo, chairman of POSCO Group, visited Western Australia and decided to promote strategic cooperation in the eco-friendly future materials business with resource development partners.

On the 20th (local time), Chairman Choi met with Gina Reinhart, chairwoman of Australian resource development company Hancock, and signed a strategic cooperation memorandum of understanding (MOU) on the development of important metals such as lithium, nickel, copper, and iron ore mining and HBI business promotion.

The two companies, which had cooperated in iron ore mining development and steel raw material production related to the steel industry, decided to expand their scope and seek cooperation opportunities in future business areas such as secondary battery raw material mining and processing including lithium and nickel.

Chairman Choi said, "Since 2010, we have maintained a cooperative relationship, including the successful development of the Roy Hill mine project and the recent joint acquisition of Senex Energy, expanding our partnership. If POSCO Group, which has a value chain from secondary battery raw material development to cathode and anode material production, cooperates with Hancock, which has excellent experience and capabilities in the mining industry, in the secondary battery raw material business, it will create great synergy."

On the 21st, Chairman Choi also met with the chairman of First Quantum Minerals, a mining development and smelting specialist company, and requested cooperation for the smooth operation of Ravenswood, a nickel mining and smelting specialist company whose shares were acquired from First Quantum Minerals last year, and discussed additional business cooperation opportunities.

He also met with the chairman of Pilbara Minerals, with whom active cooperation is ongoing in lithium raw material development and production joint ventures, to discuss expanding lithium concentrate supply and cooperation on new projects.

Prior to this, Chairman Choi held a meeting with Mark McGowan, Premier of Western Australia, stating, "Australia will be a key production and procurement country not only in steel and secondary battery raw materials but also in the future clean hydrogen sector," and added, "As an important partner country in the clean hydrogen business promoted by POSCO Group, I ask for more active support for technology and investment exchanges between companies of both countries."

Choi Jung-woo, Chairman of POSCO Group, met with Mark McGowan, Premier of Western Australia, to request support.

This content was produced with the assistance of AI translation services.