The world’s largest miner, BHP, and steelmaker POSCO announced on October 30 that they had entered into an agreement to advance the production of “near zero emissions” iron.

The near zero emissions iron will be produced at a demonstration plant at POSCO’s facility in the port city of Pohang, and it will use hydrogen-based technology and an electric furnace.

The construction of the plant is expected to begin soon, with operations scheduled to start in early 2028. Once operational, the facility will have an annual production capacity of 300,000 tons.