POSCO Holdings has inaugurated the Australian Core Resource Research Institute in Perth, Western Australia, marking its ambitious effort to secure cutting-edge technological competitiveness in steel, secondary battery materials, and rare earth elements. This is the first instance of a Korean company establishing a dedicated resource research facility directly in a region rich in raw materials.
The opening ceremony took place on May 30 in Perth, attended by POSCO Group Chairman Jin-Hwa Jang, Future Technology Research Institute Director Gi-Su Kim, along with representatives from Australian resource companies such as Hancock, BHP, Rio Tinto, and PLS (formerly Pilbara Minerals). Participants also included scholars and researchers from institutions like CSIRO (Commonwealth Scientific and Industrial Research Organisation), MRIWA (Minerals Research Institute of Western Australia), Curtin University, and other local academic and industry organizations involved in resource development.
Addressing the gathering, Chairman Jang emphasized, “Since first receiving Australian iron ore in 1971, POSCO has fostered strong trust and collaboration with the Australian government and industry. Today, with the establishment of the Australian Core Resource Research Institute, we aim to leverage Australia's abundant natural resources combined with POSCO’s advanced material technologies to increase the value of our key business sectors and develop strategic hubs for raw material processing and critical mineral acquisition.”
POSCO Group recognizes the importance of localizing research activities, not only for cost-efficient raw material procurement—given the high raw material cost structure of steel and secondary battery sectors—but also for advancing technologies that can reduce carbon emissions. To this end, it has established the specialized research center in Australia, the first of its kind among Korean companies, situated close to mining sites and global research institutions.
Chairman Jang has repeatedly stressed the significance of structural innovation in cost management and technological breakthroughs. He pointed out that aligning research, production, and sales strategies across all business processes is key to overcoming industry challenges.
The Australian Core Resource Research Institute is set to serve as a hub for POSCO’s core mineral R&D activities, focusing on technologies such as low-carbon ironmaking and raw material utilization, as well as cost reduction techniques for lithium and nickel in relevant supply chains. The institute will also pursue research into rare earth element supply chains and high-efficiency separation and refining technologies, exploring opportunities for next-generation critical minerals and potential new resources through local partnership and information exchange.
Since the early 1980s, POSCO has actively participated in developing Australia’s supply chain for key minerals like iron ore and lithium. It contributed to the development of the Roy Hill mine for stable iron ore sourcing and operates a joint venture with PLS for producing lithium hydroxide for secondary batteries.
Moreover, Chairman Jang, who also serves as Korea-Australia Economic Cooperation Committee Chairman, advocates expanding cooperation beyond traditional resource partnerships into integrated economic collaboration, fostering closer industry relations between the two nations and supporting industrial development and innovation.
