Korea Business News Agency - NSP NEWS AGENCY.

(Seoul=NSP NEWS AGENCY) = POSCO Holdings has recovered its entire investment of 1.3 trillion won from the Roy Hill iron ore mine in Australia, where it first invested in January 2010, after about 13 years and nine months.

POSCO Holdings said on the 6th that it received approximately 85 billion won in dividends in the third quarter of this year for its investment in Australia’s Roy Hill iron ore mine.

According to POSCO Holdings, on the 28th of last month, Roy Hill Holdings, which owns the Roy Hill iron ore mine in Australia, held a board meeting and resolved to pay a dividend of 800 million Australian dollars(about 680 billion won) for the third quarter of 2023.

Accordingly, POSCO Holdings received approximately KRW 85 billion in dividends, equivalent to 12.5% of its shares.

In particular, with the receipt of this dividend, POSCO Holdings has recovered the full investment cost in the Roy Hill mine by adding the cumulative dividends to date and the discounted amount for iron ore purchases due to investment in mine shares.

Starting with the first dividend of 50 billion won in the third quarter of 2020, POSCO Holdings has received a total of 1.13 trillion won in cumulative dividends so far.

By Soon-ki Lee(s8789@nspna.com) and In-ho Cho(eno8166@nspna.com)

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