The Western Australia government has announced that it will provide funding of A$15 million to POSCO and Port Hedland Iron Pty Ltd for the construction of their decarbonization project at Port Hedland.
Accordingly, the funding will support the parties’ iron project at Port Hedland, under which a carbon-reduced hot briquetted iron (HBI) plant will be built with the aim of exporting HBI to the Asian market. The production capacity of the plant will reach 12 million mt per year once all stages are completed. The project has as its aim to decarbonize the steel supply chain.
In November last year, the Western Australian government had also allocated funding of A$26 million for two carbon capture and storage projects in the state.
