- Western Australia's Green
Steel Opportunity report maps pathways for WA iron ore to be used to
reduce emissions in steelmaking
- WA's abundant low-cost clean energy creates opportunities
for Western Australia to supply high grade iron feedstock products to
steelmakers
- Cook Government committed to diversifying WA's
economy and creating local jobs
A new report delivered by the Cook
Government highlights the potential for Western Australia to join the rapidly
growing global green steelmaking value chain.
Led by the Minerals Research Institute of
Western Australia (MRIWA), the Western Australia's Green Steel Opportunity report
maps five ways WA iron ore can be used to reduce emissions from steelmaking.
Importantly, the green steel report
considers the size and scale of the capital requirements and infrastructure
needed for these pathways.
WA's access to low-cost clean energy enables
higher grade iron feedstock products, such as green iron in the form of hot
briquetted iron (HBI), to be a potential avenue for steelmakers to consider
producing in the State.
As green hydrogen technology continues to
emerge and more renewable energy infrastructure is established, the report
identifies the State's access to natural gas and renewable energy resources as
key to supporting emissions reductions in steelmaking.
In the meantime, international demand for WA's
direct shipping of iron ore material is expected to continue.
Western Australia's Green Steel Opportunityreport delivers on a 2021 election commitment and is in line with a number
of State Government initiatives such as Diversify WA, the Western Australian
Climate Policy, the Energy Transformation Strategy and the Sectoral Emissions
Reduction Strategy.
The report is available via the MRIWA
website at: https://www.mriwa.wa.gov.au/minerals-research-advancing-western-australia/focus-areas/green-steel/
Comments attributed to Premier Roger Cook:
"Our State's abundant renewable energy
resources alongside our world-leading iron ore industry puts WA front and
centre in the global push towards green steel.
"Moving up the green steel value chain will
diversify our economy and create more local jobs right across the State.
"This report delivers on an important
election commitment and will help to position Western Australia as an
investment destination for low-emissions steel opportunities."
Comments attributed to Mines and Petroleum
Minister Bill Johnston:
"As demonstrated in the report, a small scale 4.8 million
tonne per annum (Mtpa) vertically integrated magnetite HBI plant in the Pilbara
generates taxation benefits in the order of $31.7 billion to Australians
during construction and operations through to 2050.
"It is estimated that the 4.8Mtpa plant would increase
employment in the Western Australian iron ore sector by 1,700 full-time
employees.
"The Cook Government now has a comprehensive
understanding of the challenges facing the steel industry in its
decarbonisation efforts and opportunities for future value adding of iron ore
in Western Australia.
"The transition option of using natural gas
has the potential to reduce emissions from iron making by 65 per cent and is
technically feasible today. This information can be used to support investment
attraction into Western Australia.
"There is increasing interest in Western
Australia by the steel industry given the access to our iron ore resources and
renewable energy options. Coordinated efforts will be required to secure that
investment."
