M Resources is pleased to announce that POSCO have executed binding agreements to establish a Joint Venture to invest in steelmaking raw material products in Australia.
The agreement creates a platform for co-investment in future steelmaking raw material projects through a JV, with an initial investment of USD 60 million.
The agreement provides a strategic, long-term approach to sourcing and securing POSCO’s future steelmaking raw material requirements, by partnering with M Resources and its networks in Australia and across the world.
Statement from Leadership:
M Resources Founder and President Matt Latimore said, “M Group is extremely delighted to partner with POSCO on Australian raw material investments to supply POSCO’s steelmaking operations. M Group has had a long and cherished relationship with POSCO since we established our business in 2011. We are extremely pleased to further deepen our relationship with POSCO, one of the world’s great steelmaking institutions.”
“This is an important next step between M Resources and POSCO, deepening cooperation between the two companies, and we are pleased to have the support of POSCO’s Board and Executive Leadership for the establishment of the joint venture.” “We are looking forward to a continued mutually beneficial partnership.”
