POSCO reveals plans to pour $142 billion into new steel and...

POSCO reveals plans to pour $142 billion into new steel and green initiatives (*********.com.au)



Korean powerhouse POSCO, the world’s 6th largest steel producer, has revealed plans to invest $142 billion into projects aimed at significantly expanding and “greening” its global operations. Local Korean media have confirmed that 60% of the investment will be targeted at activities in South Korea. That investment will target developments at steel plants in the south eastern port of Pohang and the southern port of Gwangyang."

POSCO isnt messing around. They invested in a cool 1.6b to get the royhill mine up and running with Gina + topped up their investment to 4b a few years ago. Now they POSCO are going green, I guarantee you they are looking for a green iron ore operation in Australia. It does say that they are spending 60% of their 142b budget in Korea, which leaves 28b of investment offshore... MGT will most likely require 2-4b, thats well within the 28b of the 142b in their kitty. Sounds like we are what they need to remain competitive in the market.

Hey Posco, you interested in say a 50% stake in MGT? Dont repeat the same mistake you made with Royhill having to share the ownership across 4 owners which resulted in POSCO netting only 400m in dividends last year based on their 12.5% stake in royhill .Change your approach with MGT mates. Dont miss out this time!!