By exploring and developing strategic minerals such as bituminous coal, copper and nickel, and investing in related production projects, POSCO DAEWOO seeks to expand the value chain towards the upstream sector. Through these efforts, the company strives to secure supply quantity through offtake agreements and synergy with trading organizations.
Australia Narrabri Bituminous Coal
POSCO DAEWOO has participated in the bituminous coal project in Narrabri, Australia, since August 2009 by forming a consortium with the Korea Resources Corporation (KORES) to secure a basis for the sale and stable profitability.
Based in the Gunnedah coal mine in New South Wales, Australia, the project began drilling and mining in June 2010, longwall mining and trial operation in June 2012, commercial production in October 2012, and now produces thermal coal and PCI (Pulverized Coal Injection) coal for steelmaking. POSCO DAEWOO engages in the trading of part of bituminous coal mined along with the dividend income from the equity share it owns.
Participation : September 2009 (Started production in December 2012)
- Equity : 5.0%
- Acreage : 53㎢
Parties : WHITEHAVEN(Operator), YUDEAN, J-POWER, EDFT(Electricité de France Trading Limited), KORES