Understanding the demand for Green Steel, page-175

Korean steelmakers accelerate advance into green energy sector - 매일경제 영문뉴스 펄스(Pulse) (pulsenews.co.kr)



South Korea’s POSCO group plans to produce green hydrogen through solar power, wind power and other renewable energy sources, in Australia, to produce hot briquetted iron (HBI). For this, POSCO together with its partners will invest $40 billion - $28 billion in renewable energy-based hydrogen production and $12 billion in green steel sector, in Australia through 2040."

Guess what? POSCO last year entered into a joint venture deal with Pilbara Minerals Ltd (PLS.AX) to build a 43,000 tonne lithium hydroxide chemical facility in Gwangyang, South Korea. It also bought a 30% stake in First Quantum Minerals Ravensthorpe nickel mine in Western Australia.

Also, recently, there was a retracted announcement in The Australian that one of the interested funders/buyers of MGT is south korea. In fact they were first on the list followed by Japan, India and Taiwan. MGT might only seeking 700-900m and yet the article above said they spent 12 billion on green steel... Is there a connection? Is South Korea a partner of MGT? Interesting.