POSCO signed a memorandum of understanding (MoU) with Nickel Prime Solutions Inc (NPSI), one subsidiary of the Philippine Michael Chen Group. The two companies will establish a joint venture to develop nickel products.
They will construct a mill with new smelting technology to produce MHP (mixed hydroxide precipitate). MHP is an intermediate material produced from nickel ores by removing impurities, which can be used as raw material for the production of nickel sulfate.
POSCO plans to use more advanced technology to make its products more competitive and reach the goal of a 50% reduction of carbon emissions.