The potential of the Port Hedland Iron Project (PHI) for Western Australia has been highlighted with a $15 million allocation from the State Government.
Announcing the PHI funding, WA Premier Roger Cook said the project was “at the cutting edge of the global energy transition.”
Project Leader POSCO Co Ltd welcomed the funding
Port Hedland Iron aims to increasingly harness hydrogen to process Western Australian iron ore into pellets and briquettes for conversion to steel overseas. The next generation project would create thousands of jobs, whilst reducing the emissions intensity of steel making.
The allocation from the Western Australian Investment Attraction Fund will be used to assist with enabling project infrastructure in Port Hedland’s Boodarie Strategic Industrial Area.
POSCO Senior Executive Vice President, Ms. Yu-Kyung LEE said the grant allocation was a clear signal of the State’s ongoing commitment and support during the planning stages for the Project.
“Western Australia is key to our planning, the Pilbara has clear potential given the proximity to iron ore supplies, the potential development of large-scale renewables in the region and access to the world class port operations at Port Hedland” Ms. Lee said.