Australian federal authorities have granted environmental approval for the $3 billion Port Hedland Iron Project in Western Australia's Pilbara. The POSCO-led plant is intended to produce hot-briquetted iron, a high-grade material used in steel production. Its low-carbon process is designed to reduce emissions from ironmaking. The federal sign-off clears a major environmental hurdle for the development. First output is scheduled for 2031, leaving construction and commissioning work ahead. The approval moves the project closer to becoming a large industrial operation at Port Hedland.