UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM SD

 

 

Specialized Disclosure Report

 

 

POSCO HOLDINGS INC.

(Exact name of registrant as specified in its charter)

 

 

 

 

The Republic of Korea   1-13368   Not Applicable

(State or other jurisdiction

of incorporation)

  

(Commission

File Number)

  

(I.R.S. Employer

Identification No.)

POSCO Center, 440 Teheran-ro,

Gangnam-gu

Seoul, Republic of Korea

   06194
(Address of principal executive offices)   (Zip Code)

Jang, Soo-Young

POSCO Center, 440 Teheran-ro, Gangnam-gu,

Seoul, Republic of Korea 06194

+82-2-3457-0747

(Name and telephone number, including area code, of the person to contact in connection with this report.)

 

 

Check the appropriate box to indicate the rule pursuant to which this form is being filed, and provide the period to which the information in this form applies:

 

☒

Rule 13q-1 under the Securities and Exchange Act (17 CFR 240.13q-1) for the reporting period from January 1 to December 31, 2023.

 

☐

Rule 13q-1 under the Securities and Exchange Act (17 CFR 240.13q-1) for the fiscal year ended __________.

 

 

 

Section 1 - Conflict Minerals Disclosure

 

Item 1.01

Conflict Minerals Disclosure and Report

Not applicable.

 

Item 1.02

Exhibit

Not applicable.

Section 2 - Resource Extraction Issuer Disclosure

 

Item 2.01

Resource Extraction Issuer Disclosure and Report

Disclosure of Payments by Resource Extraction Issuers

The payment disclosure required by this Item 2.01 is included as Exhibit 2.01 to this Form SD.

Report on payments to governments for the year ended December 31, 2023

This report provides an overview of the payments to governments made by POSCO HOLDINGS INC. (“POSCO HOLDINGS”) and its consolidated subsidiaries for the fiscal year ended December 31, 2023. Unless the context requires otherwise, references in this report to the “Company,” “we,” “us” and “our” refer to POSCO HOLDINGS and its consolidated subsidiaries.

All payments are reported in US Dollars. Payments that were made in currencies other than in US Dollars have been converted to US Dollars using the exchange rates as of December 31, 2023.

Our Business Segments

Our six business segments are as follows:

 

  •  

Steel Segment. This segment includes the production and sale of steel products.

 

  •  

Infrastructure Business. This segment includes our businesses related to provision of infrastructure and related services. Such segment is divided into three operations as follows:

 

  •  

Trading Segment. This segment consists primarily of the global trading activities, natural resources development activities and power generation activities of POSCO International Corporation, our consolidated subsidiary. 

 

  •  

Construction Segment. This segment, which is operated by POSCO Eco & Challenge Co., Ltd., our consolidated subsidiary, consists primarily of planning, designing and construction of industrial plants, civil engineering projects and commercial and residential buildings, both in Korea and overseas.

 

  •  

Logistics and Others Segment. This segment consists primarily of the information technology and operational technology services of POSCO DX Co., Ltd. and the integrated logistics services of POSCO FLOW Co., Ltd., our consolidated subsidiaries.

 

  •  

Secondary Battery Materials Segment. This segment includes (i) the manufacturing and sale of various energy-related and other industrial materials by POSCO Future M Co., Ltd., our consolidated subsidiary, including anode and cathode materials for rechargeable batteries and (ii) investments made by us in production projects relating to other materials such as lithium.

  •  

Others Segment. This segment includes POSCO HOLDINGS and all other entities which fall below the reporting thresholds. POSCO HOLDINGS actively explores diversification opportunities in promising business areas.

Our Projects

This report discloses the payments made by us to governments for the commercial development of oil, natural gas and brine lithium, and which involve the exploration, extraction, processing, and export of such minerals, or the acquisition of a license for any such activity.

As of December 31, 2023, our reportable projects are as follows:

 

  •  

Argentina Sal de Oro Project: extraction of brine lithium used in production of lithium hydroxide and lithium carbonate, through brine well production, in the Hombre Muerto salt lake located in Salta and Catamarca provinces of Argentina. We hold a 100.0% interest in the project. We consider this mining property as one project.

 

  •  

Malaysia Block PM524 Project: offshore oil and natural gas exploration project located in the eastern sea of the Malay peninsula. We hold a 80.0% interest in the project. We consider this mining property as one project.

 

  •  

Indonesia Block Bunga Project: offshore oil and natural gas exploration project located in the eastern sea of Java, Indonesia. We hold a 50.0% interest in the project. We consider this mining property as one project.

 

  •  

Australia Atlas, Roma North and Range Project: (i) extraction of coal seam gas, through well drilling, in the Atlas and Roma North gas fields located in Eastern Australia and (ii) exploration of additional natural gas, including in the Range gas field located in Eastern Australia. We hold a 50.1% interest in the project. We consider this natural gas project as one project.

Section 3 - Exhibits

 

Item 3.01

Exhibits

The following exhibit is filed as part of this report on Form SD.

Exhibit 2.01 – Resource Extraction Payment Report

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned.

POSCO HOLDINGS INC.

 

By:  

/s/ Kim, Seung-Jun

Name:   Kim, Seung-Jun
Title:   Executive Vice President

Date: September 25, 2024

Exhibit 2.01

Resource Extraction Payment Report

Project-level Disclosure

The table below sets forth our payments made to governments for the fiscal year ended December 31, 2023, by project and type of payment.

 

    For the year ended December 31, 2023 (in US Dollars) (1)  
    Taxes     Royalties     Fees     Production
Entitlements		     Bonuses     Dividends     Payments for
Infrastructure
Improvements		     Community
and Social
Responsibility
Payments		     Total  

Argentina

                  

Sal de Oro Project

   $ 5,010,792     $ 35,076     $ —      $ —      $ —      $ —      $ —      $ —      $ 5,045,868  

Malaysia

                  

Block PM524 Project

     —        —        1,029,510       —        —        —        —        —      $ 1,029,510  

Indonesia

                  

Block Bunga Project

     —        —        —        —        100,000       —        —        —      $ 100,000  

Australia

                  

Atlas, Roma North, Range Project

     1,863,221       13,381,804       1,051,692       —        —        —        —        —      $ 16,296,717  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total

   $ 6,874,013     $ 13,416,880     $ 2,081,202     $ —      $ 100,000     $ —      $ —      $ —      $ 22,472,095  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

(1)

All payments are reported in US Dollars. Payments relating to project in Argentina were made in Argentine Pesos, payments relating to project in Malaysia were made in US Dollars and Malaysian Ringgits, payments relating to project in Indonesia were made in US Dollars, and payments relating to the project in Australia were made in Australian Dollars. Such payments made in currencies other than in US Dollars have been converted to US Dollars using the exchange rates as of December 31, 2023.

Government-level Disclosure

The table below sets forth our payments made to governments for the fiscal year ended December 31, 2023, by government and type of payment.

 

    For the year ended December 31, 2023 (In US Dollars) (1)  
    Taxes     Royalties     Fees     Production
Entitlements		     Bonuses     Dividends     Payments for
Infrastructure
Improvements		     Community
and Social
Responsibility
Payments		     Total  

Argentina

                  

Federal Government

   $ 4,216,107     $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ 4,216,107  

State Government

     792,630       35,076       —        —        —        —        —        —        827,706  

Municipal Government

     2,055       —        —        —        —        —        —        —        2,055  

Malaysia

                  

State-owned enterprise

     —        —        1,029,510       —        —        —        —        —        1,029,510  

Indonesia

                  

Central Government

     —        —        —        —        100,000       —        —        —        100,000  

Australia

                  

Federal Government

     —        —        585,466       —        —        —        —        —        585,466  

State Government

     914,120       13,381,804       466,226       —        —        —        —        —        14,762,150  

Local Government

     949,101       —        —        —        —        —        —        —        949,101  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total

   $ 6,874,013     $ 13,416,880     $ 2,081,202     $ —      $ 100,000     $ —      $ —      $ —      $ 22,472,095  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

(1)

All payments are reported in US Dollars. Payments relating to project in Argentina were made in Argentine Pesos, payments relating to project in Malaysia were made in US Dollars and Malaysian Ringgits, payments relating to project in Indonesia were made in US Dollars, and payments relating to the project in Australia were made in Australian Dollars. Such payments made in currencies other than in US Dollars have been converted to US Dollars using the exchange rates as of December 31, 2023.

Payment Details Disclosure

The table below provides the details of payments made to governments for the fiscal year ended December 31, 2023.

 

For the year ended December 31, 2023

  

Subnational Political
Jurisdiction

  

Government

  

Business Segment

   Project    

Resource

  

Extraction Method

   Amount
(In US
Dollars) (1) 		 

Argentina

            

Salta and Catamarca

   Federal Government   Secondary Battery Materials Segment     Sal de Oro Project     Brine Lithium   Brine Well Production   $ 4,216,107  

Salta

   State and Municipal   Secondary Battery Materials Segment     Sal de Oro Project     Brine Lithium   Brine Well Production     411,168  

Catamarca

   State and Municipal   Secondary Battery Materials Segment     Sal de Oro Project     Brine Lithium   Brine Well Production     418,593  
           

 

 

  

Total

             $ 5,045,868  
           

 

 

  

Malaysia

            

Terengganu

   State-owned enterprise   Infrastructure Business —
Trading Segment		     Block PM524 Project     Oil and Natural Gas   Well Drilling   $ 1,029,510  
           

 

 

  

Total

             $ 1,029,510  
           

 

 

  

Indonesia

            

Java

   Central Government   Infrastructure Business —
Trading Segment		     Block Bunga Project     Oil and Natural Gas   Well Drilling   $ 100,000  
           

 

 

  

Total

             $ 100,000  
           

 

 

  

Australia

            

Queensland

   Federal, State and Local   Infrastructure Business —
Trading Segment		    
 Atlas, Roma North and
Range Project		  
 		   Coal Seam Gas   Well Drilling   $ 16,296,717  
           

 

 

  

Total

             $ 16,296,717  
           

 

 

  

 

(1)

All payments are reported in US Dollars. Payments relating to project in Argentina were made in Argentine Pesos, payments relating to project in Malaysia were made in US Dollars and Malaysian Ringgits, payments relating to project in Indonesia were made in US Dollars, and payments relating to the project in Australia were made in Australian Dollars. Such payments made in currencies other than in US Dollars have been converted to US Dollars using the exchange rates as of December 31, 2023.

v3.24.3
Document Information
 12 Months Ended
Dec. 31, 2023
Document Information:  
Document Type 2.01 SD
Amendment false
CIK 0000889132
Registrant Name POSCO HOLDINGS INC.
Period End Date Dec. 31, 2023
Reporting Currency USD
v3.24.3
Payments, by Category - USD ($)
Taxes
Royalties
Fees
Bonuses
Total Payments
Total [1] $ 6,874,013 $ 13,416,880 $ 2,081,202 $ 100,000 $ 22,472,095
[1] All payments are reported in US Dollars. Payments relating to project in Argentina were made in Argentine Pesos, payments relating to project in Malaysia were made in US Dollars and Malaysian Ringgits, payments relating to project in Indonesia were made in US Dollars, and payments relating to the project in Australia were made in Australian Dollars. Such payments made in currencies other than in US Dollars have been converted to US Dollars using the exchange rates as of December 31, 2023.
v3.24.3
Payments, by Project - 12 months ended Dec. 31, 2023 - USD ($)
Taxes
Royalties
Fees
Bonuses
Total Payments
Total [1] $ 6,874,013 $ 13,416,880 $ 2,081,202 $ 100,000 $ 22,472,095
Sal de Oro Project          
Total [1] 5,010,792 35,076     5,045,868
Block PM524 Project          
Total [1]     1,029,510   1,029,510
Block Bunga Project          
Total [1]       $ 100,000 100,000
Atlas, Roma North, Range Project          
Total [1] $ 1,863,221 $ 13,381,804 $ 1,051,692   $ 16,296,717
[1] All payments are reported in US Dollars. Payments relating to project in Argentina were made in Argentine Pesos, payments relating to project in Malaysia were made in US Dollars and Malaysian Ringgits, payments relating to project in Indonesia were made in US Dollars, and payments relating to the project in Australia were made in Australian Dollars. Such payments made in currencies other than in US Dollars have been converted to US Dollars using the exchange rates as of December 31, 2023.
v3.24.3
Payments, by Government - 12 months ended Dec. 31, 2023 - USD ($)
Taxes
Royalties
Fees
Bonuses
Total Payments
Total [1] $ 6,874,013 $ 13,416,880 $ 2,081,202 $ 100,000 $ 22,472,095
ARGENTINA | Federal Government [Member]          
Total [1] 4,216,107       4,216,107
ARGENTINA | State Government [Member]          
Total [1] 792,630 35,076     827,706
ARGENTINA | Municipal Government [Member]          
Total [1] 2,055       2,055
MALAYSIA | State Owned Enterprise [Member]          
Total [1]     1,029,510   1,029,510
INDONESIA | Central Government [Member]          
Total [1]       $ 100,000 100,000
AUSTRALIA | Federal Government [Member]          
Total [1]     585,466   585,466
AUSTRALIA | State Government [Member]          
Total [1] 914,120 $ 13,381,804 $ 466,226   14,762,150
AUSTRALIA | Local Government [Member]          
Total [1] $ 949,101       $ 949,101
[1] All payments are reported in US Dollars. Payments relating to project in Argentina were made in Argentine Pesos, payments relating to project in Malaysia were made in US Dollars and Malaysian Ringgits, payments relating to project in Indonesia were made in US Dollars, and payments relating to the project in Australia were made in Australian Dollars. Such payments made in currencies other than in US Dollars have been converted to US Dollars using the exchange rates as of December 31, 2023.
v3.24.3
Payments, Details - 12 months ended Dec. 31, 2023 - USD ($)
Amount
Type
Country
Subnat. Juris.
Govt.
Project
Resource
Segment
Ext. Method
#: 1                  
$ 4,216,107 [1] Taxes ARGENTINA [1] snj:AR-A [1] Federal Government [Member] [1] Sal de Oro Project [1] Brine Lithium [Member] [1] Secondary Battery Materials Segment [Member] [1] Well [1]
#: 2                  
4,216,107 [1] Royalties ARGENTINA [1] snj:AR-K [1] Federal Government [Member] [1] Sal de Oro Project [1] Brine Lithium [Member] [1] Secondary Battery Materials Segment [Member] [1] Well [1]
#: 3                  
411,168 [1] Fees ARGENTINA [1] snj:AR-A [1] State Government [Member] [1] Sal de Oro Project [1] Brine Lithium [Member] [1] Secondary Battery Materials Segment [Member] [1] Well [1]
#: 4                  
411,168 [1] Bonuses ARGENTINA [1] snj:AR-A [1] Municipal Government [Member] [1] Sal de Oro Project [1] Brine Lithium [Member] [1] Secondary Battery Materials Segment [Member] [1] Well [1]
#: 5                  
[1] 418,593   ARGENTINA snj:AR-K State Government [Member] Sal de Oro Project Brine Lithium [Member] Secondary Battery Materials Segment [Member] Well
#: 6                  
[1] 418,593   ARGENTINA snj:AR-K Municipal Government [Member] Sal de Oro Project Brine Lithium [Member] Secondary Battery Materials Segment [Member] Well
#: 7                  
[1] 1,029,510   MALAYSIA snj:MY-11 State Owned Enterprise [Member] Block PM524 Project Oil and Natural Gas [Member] Infrastructure Business Trading Segment [Member] Well
#: 8                  
[1] 100,000   INDONESIA snj:ID-JT Central Government [Member] Block Bunga Project Oil and Natural Gas [Member] Infrastructure Business Trading Segment [Member] Well
#: 9                  
[1] 16,296,717   AUSTRALIA snj:AU-QLD Federal Government [Member] Atlas, Roma North, Range Project Coal Seam Gas [Member] Infrastructure Business Trading Segment [Member] Well
#: 10                  
[1] 16,296,717   AUSTRALIA snj:AU-QLD State Government [Member] Atlas, Roma North, Range Project Coal Seam Gas [Member] Infrastructure Business Trading Segment [Member] Well
#: 11                  
[1] $ 16,296,717   AUSTRALIA snj:AU-QLD Local Government [Member] Atlas, Roma North, Range Project Coal Seam Gas [Member] Infrastructure Business Trading Segment [Member] Well
[1] All payments are reported in US Dollars. Payments relating to project in Argentina were made in Argentine Pesos, payments relating to project in Malaysia were made in US Dollars and Malaysian Ringgits, payments relating to project in Indonesia were made in US Dollars, and payments relating to the project in Australia were made in Australian Dollars. Such payments made in currencies other than in US Dollars have been converted to US Dollars using the exchange rates as of December 31, 2023.
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