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POSCO and M Resources Launch $60M JV, Targeting Australian Raw Material Projects

  • Writer: Met Coal Junkie
    Met Coal Junkie
  • Apr 23
  • 1 min read

POSCO and M Resources have formed a USD 60 million joint venture to invest in Australian steelmaking raw materials, marking a major step in securing POSCO’s future supply. M Resources President Matt Latimore emphasized the long-standing relationship with POSCO and the strategic value of deepening cooperation. The JV provides a platform for future co-investments across Australia and reflects POSCO’s commitment to long-term supply stability.


Sources have speculated that with Illawarra raw material costs estimated at around USD 170 per ton, the initial capital injection could support access to approximately 353,000 tons of material.

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