Mineral Resources (MinRes) has announced a strategic investment in a UK-based company behind technology that significantly reduces energy use and emissions in the production of iron ore pellets.
Binding Solutions Limited (BSL) will use the $US17.5m ($26.6m) investment to progress the design and construction of a demonstration plant capable of producing about 50 tonnes per hour of cold-bonded iron ore pellets.
MinRes Chief Executive, Iron Ore Chris Soccio with cold-bonded iron ore pellets.
BSL’s patented process uses minimal heat and very limited energy to produce high-quality pellets or briquette products for the iron ore and steel industry.
The technology reduces energy use and CO2 emissions by up to 95% and 93% respectively compared to traditional induration processes, BSL said, while also virtually eliminating sulphur oxide and nitrogen oxide emissions.
At the same time, the technology enables reductions in capital investment costs of approximately 90% per 1 Mtpa of production.
MinRes Managing Director Chris Ellison said: “BSL’s technology has the potential to rapidly play a major role in the decarbonisation of the global steel industry.
“MinRes has a track record of using innovation to solve problems and unlock value, and we are excited to partner with BSL to support this innovative technology.”
Potential locations are being considered for the demonstration plant, including in Western Australia,
