Western Australia Approves Posco’s Low-Carbon Iron Plant

The Western Australian state government has approved steelmaker Posco Holdings Inc.’s proposal to build a low-emissions iron plant at the major export hub of Port Hedland, in the Pilbara region of the state.

The state’s Environment Minister Matthew Swinbourn authorized the A$4.3 billion ($3 billion) project, which would produce 2 million tons of the steelmaking material per year, according to a ministerial statement on Tuesday.