[Apha Biz=(Chicago) Reporter Paul Lee] POSCO Holdings "Investment in Australian mines, fully recovered in 13 years and 9 months"

POSCO Holdings said on the 10th that it received about 85 billion won in dividends in the third quarter of this year following its investment in iron ore mines in Roy Hill, Australia, on the 6th.

POSCO Holdings recovered the entire investment cost of 1.3 trillion won in the Roy Hill mine by combining cumulative dividends (1.13 trillion won) and discounts on iron ore purchases.

It has been 13 years and 9 months since the initial investment in January 2010. POSCO Holdings participated in the development of the Roy Hill mine to stably procure high-quality iron ore. I hold a 12.5% stake.

POSCO Holdings secures 20% of its annual iron ore needs from Roy Hill mines. Roy Hill Mine is Australia's largest single mine. The reserve is 2.3 billion tons, and annual production is 63 million tons.

 

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