20 June 2024
Representatives from some of the world’s biggest companies in sectors including mining, steel and energy are descending on Adelaide for a major forum of companies interested in investing in South Australia’s green iron and steel future.
The South Australian government has outlined a path to be a leader in the global decarbonisation of iron and steel, with the government today unveiling a Green Iron and Steel Strategy.
The strategy outlines three objectives and nine key actions the government will lead to establish a world-leading green iron industry and supply chain in South Australia, including the ambition to facilitate a new hydrogen-based green iron plant in South Australian by 2030 or earlier.
The commitment is backed by a $3.6 million investment included in this year’s State Budget to support a global expression of interest (EoI) process to engage companies in developing a green iron industry and supply chain in South Australia.
The first part of the EoI process will see companies working with government in a four-month detailed engagement process to define ways to support industry investment in South Australian green iron.
More than 150 organisations are registered to attend an industry forum on Thursday June 20. These include BHP, BlueScope, Fortescue Energy, GFG Alliance, Nippon Steel, NatSteel, Thyssenkrupp, Lodestone Mines, Magnetite Mines, Iron Road, ZEN Energy, Epic Energy, Flinders Port Holdings, ElectraNet, Aurizon, Cavpower and HSBC Bank.
Companies will have until 1 October to submit their EoI. A report outlining submissions and next steps will then be developed and is expected to be released before the end of the year.
The release of the strategy and the commencement of engagement on the EoI builds on a study released last month demonstrating that South Australian green iron has a 21 per cent cost advantage when compared with shipping its raw components to Europe.
That study referenced South Australia’s significant magnetite resources, its early leadership in renewable energy and hydrogen economy, and the co-location of these natural advantages with existing steelmaking and smelting facilities.
More information on the Green Iron Strategy and Expression of Interest can be found at energymining.sa.gov.au/greeniron.
