Pedal to the metal: iron and steel’s US$1.4 trillion shot at decarbonisation | Wood Mackenzie
US$800-900 billion will be essential to greening existing steelmaking infrastructure, setting up new DRI and electric arc furnaces and developing a hydrogen ecosystem for steel.High-grade iron ore consumption will have to increasefive fold to 750 million tonnes.
Miners will need to play an active role in cutting operational emissions and investing in new high-grade mines and DR pellet capacities, all of which translate into a US$250-300 billion investment. Two-thirds of the investment by iron ore miners will be dedicated to the exploration of new high-grade ore mines and abating emissions from existing operations. Forward integration into pellet manufacturing for DRI manufacturing capacity will consume the rest."
An oldie but a goodie. 6x demand for high grade ore. MGT needs to get this baby into production ASAP. Merry Christmas everyone.
Understanding the demand for Green Steel, page-176
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