Keep an eye on news surrounding the steel works in Whyalla.
POSCO are circling. They have established green hydrogen plans. See Article from June 2024.
The landmark Future Made in Australia legislation introduces a $6.7 billion Hydrogen Production Tax Incentive, offering $2 per kilogram of renewable hydrogen produced between 2027–28 and 2039–40, alongside a 10% tax credit for critical minerals processing. This is on top of the the state and fed governments have put 2.4 billion on the table to attract a buyer.
The South Korean steel giant was set to take over the plant in 2017 before GFG Alliance was confirmed as the new owner. However, now, the geoplolitical landscape is very different and its not as if they don't know the business. "This would be a brilliant opportunity for POSCO to actually buy the business, leverage the brilliant magnetite iron ore resources in South Australia, and export green iron up to South Korea," Mr Buckley said.
Therefore, it’s not hard to see synergies developing for POSCO to add RNU’s BAM project with money on the table and a 10% tax credit for that also.
Regardless of who becomes Whyalla’s new owner, the key thing about this weeks announcement is that RNU’s purification technology has emerged as a true-blue pioneer and leader in the field to produce a low-cost HF-free method.
AIMO, DYOR, GLTA(patient)H
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