Australia-based mining company Hancock Group has announced that it has signed a further expanded cooperation agreement with South Korean steelmaker Pohang Iron and Steel Co. (POSCO).
The agreement encompasses further iron ore projects and the joint study of the production of hot briquetted iron (HBI).
Additionally, the agreement builds on the long-term relationship between the two companies that was built through the development of the Roy Hill iron ore project with an annual 60 million mt capacity. In March, the two companies signed an agreement to establish a new low-carbon hot briquetted iron (HBI) plant in Australia, which will use hydrogen as a reducing agent in HBI production to reduce carbon emissions, as SteelOrbis previously reported.
