First Local R&D Base for Resources by a Korean Company
Collaboration System Launched with Global Research Institutes
"Combining Resources and Technology to Create Added Value"
POSCO Holdings has become the first Korean company to establish a resource-specialized research institute in Australia, a region densely populated with resource mines. Jang Inhwa, POSCO Group Chairman, personally attended the opening ceremony in Australia and emphasized that the company will position the country as a strategic base for securing key minerals.
On May 30 (local time), POSCO Holdings announced the official opening and commencement of operations of the ‘Australia Critical Resources Research Institute’ in Perth, Western Australia. The opening ceremony was attended by Chairman Jang Inhwa, Kim Kisoo, Head of the Future Technology Research Institute, representatives from Australian raw material suppliers such as Hancock, BHP, Rio Tinto, and PLS (formerly Pilbara Minerals), as well as officials from research institutions and academia including the Commonwealth Scientific and Industrial Research Organisation (CSIRO), the Minerals Research Institute of Western Australia (MRIWA), and Curtin University.
Chairman Jang stated, “Since POSCO first received iron ore from Australia in 1971, we have grown into a global top-tier materials company through close collaboration with the Australian government and industry. The establishment of this research institute will combine POSCO Group’s materials technology with Australia’s resource capabilities to create added value and serve as a strategic base for securing key minerals.”
Australia is a country rich in strategic minerals such as iron ore, lithium, nickel, and rare earth elements. The Perth region, where global mining companies and research institutions are concentrated, is recognized as a hub for resource technology cooperation. Through the establishment of this research institute, POSCO aims to build local research and development (R&D) capabilities and strengthen its technology competitiveness centered on supply sources. In the face of intensifying competition to secure raw materials in the steel and secondary battery materials sectors, the company plans to secure unrivaled competitiveness by developing technologies at the mining sites themselves.
The research institute plans to focus on developing low-carbon utilization technologies for steelmaking raw materials, as well as refining and cost reduction technologies for lithium and nickel. It will also conduct research on refining technologies and supply chain security for next-generation minerals such as rare earth elements. In addition, POSCO intends to identify strategic investment opportunities and strengthen connections with the global resource ecosystem through collaboration with local research institutions and mining companies.
This establishment is considered a case in which POSCO Group has expanded its cooperative relationship with Australia to a technological foundation. Since the early 1980s, POSCO has collaborated with Australia to build supply chains for key minerals such as iron ore and lithium. The company is participating in the development of the Roy Hill iron ore mine and operates a joint venture with Australia’s PLS for the production of lithium hydroxide for secondary batteries.
Chairman Jang’s personal visit to Australia is seen as a symbolic move demonstrating that the group is making the acquisition of resources and technology a driving force for future growth. It is also interpreted as a signal that POSCO’s strategy to simultaneously secure supply chain leadership and internalize technology is becoming more concrete. Chairman Jang currently serves as the Korea-Australia Economic Cooperation Committee Chairman and leads industrial cooperation between the two countries in fields such as minerals and secondary batteries.
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