The Western Australian government has awarded South Korean steelmaker POSCO and the Port Hedland Iron company $15 million for their Port Hedland Iron Project, which aims to decarbonize the steel manufacturing supply chain with production of low carbon hot briquetted iron for export to the Asian market.
The investment is part of the Investment Attraction Fund, worth $34 million, which has been allocated for three separate clean energy projects.
The projects will receive the funding boost as part of the Labor government’s clean energy plan to diversify the economy and set Western Australia (WA) up for the future.
Pilbara Minerals Limited has been allocated $15 million for its demonstration-scale plant that incorporates an industrial-scale electric spodumene calciner, which converts critical mineral concentrates into high-value battery precursors.
International Graphite Ltd has been awarded $4 million to fast-track the Springdale Graphite Resource for its Collie downstream processing facilities and to develop the next stages of technology and processes required to produce critical battery materials.
"WA is on track to become a global clean energy powerhouse, to keep our economy for the long term and create the jobs of the future in our State.’’
Roger Cook, premier, Western Australia
"WA is on track to become a global clean energy powerhouse, to keep our economy for the long term and create the jobs of the future in our State,’’ said Roger Cook, premier of Western Australia. "These projects are at the cutting edge of the global energy transition - whether it's reducing emissions from steel or producing the batteries the world needs for a clean energy future. Only my WA Labor Government has the plan and the experience to keep WA's economy strong and create local jobs for our future."