Section 1 Conflict Minerals Disclosure
Item 1.01: |
Conflict Minerals Disclosure and Report |
Rule 13p-1 under the Securities Exchange Act of 1934, as amended, generally provides that a company
must file this specialized disclosure report if it manufactures or contracts to manufacture products for which one or more of the following minerals are necessary to the functionality or production of the companys products: columbite-tantalite
(coltan), cassiterite, gold, wolframite, or their derivatives tantalum, tin and tungsten (collectively, 3TGs). These are considered conflict minerals under Rule 13p-1 regardless
of their geographic origin and whether or not they fund armed conflict in the Democratic Republic of the Congo or its neighboring countries (the Covered Countries).
All references to we, us or our shall mean POSCO HOLDINGS INC. and, unless the context otherwise require,
its consolidated subsidiaries.
Company and Product Overview
We are a holding company, and we operate through our consolidated subsidiaries including POSCO, one of the largest steel producers in the
world. We also engage in businesses that complement our steel manufacturing operations and also carefully seek out promising investment opportunities to diversify our businesses both vertically and horizontally. POSCO International Corporation is a
global trading company that primarily engages in trading of steel and raw materials as well as investing in energy and mineral development projects throughout the world and it also is the largest private power generation company in Korea. POSCO
Eco & Challenge Co., Ltd. (formerly known as POSCO Engineering & Construction Co., Ltd.) is one of the leading engineering and construction companies in Korea that primarily engages in the planning, design and construction of
industrial plants and architectural works and civil engineering. POSCO Future M Co., Ltd. (POSCO Future M) specializes in the manufacturing and sale of various energy-related and other industrial materials, including anode and
cathode materials for rechargeable batteries.
POSCO is the largest fully integrated steel producer in Korea, and one of the largest steel
producers in the world, based on annual crude steel production. We, through POSCO and our other steel producing subsidiaries, produced approximately 39.9 million tons of crude steel and stainless steel in 2023. We manufacture and sell a
diversified line of steel products, including cold rolled and hot rolled products, stainless steel products, plates, wire rods and silicon steel sheets in the global market, and we strive to meet a broad range of customer needs from manufacturing
industries that consume steel, including automotive, shipbuilding, home appliance, engineering and machinery industries. Information regarding our products is also publicly available on POSCOs website at
http://product.posco.com/homepage/product/eng/jsp/s91m0000001i.jsp.
Iron ore and coal are the principal raw materials used in the
steel industry, and 3TGs are generally used as supplementary materials in manufacturing steel products. We determined that certain of our products (collectively, the Covered Products) contain some 3TGs that are necessary to the
functionality or production of those products. Our tin plates contain tin to prevent oxidation and corrosion and certain of our stainless steel sheets contain tungsten to adjust tensile strength. We also use tungsten and cobalt for the production of
cathode materials. We do not directly purchase 3TGs other than approximately 294 tons of tin per year and approximately 94 tons of tungsten per year from smelters certified by the Responsible Minerals Assurance Process, which is a program operated
by the Responsible Minerals Initiative (RMI), a global non-governmental organization (NGO) in the area of responsible minerals sourcing. We also purchase 3,100 tons of
cobalt per year from smelters certified by the Responsible Minerals Assurance Process.