Understanding the demand for Green Steel, page-1171

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08/03/25

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Post #: 78188346
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Originally posted by MGT4eva: ↑

https://lnkd.in/es9-gRiS

The WWF report "Forging Futures: Changing the Nature of Iron and Steel Production" highlights the significant opportunity for Australia to become a global leader in green steel manufacturing. This involves producing green iron and hydrogen-based Direct Reduced Iron (H2-DRI), leveraging Australia's abundant natural resources and renewable energy potential. Key insights include:
Economic Potential:
The green steel market could add between $96 billion and $295 billion annually to Australia's economy.
Developing this industry could create 240,000 jobs while diversifying the economy away from fossil fuels.
Environmental Benefits:
Steel production contributes to 7-9% of global greenhouse gas (GHG) emissions.
Transitioning to green steel, powered by renewable energy and green hydrogen, would significantly reduce emissions in the Asia-Pacific (APAC) region, the world’s largest steel-producing area.
Strategic Advantages:
Australia's rich iron ore reserves and renewable energy capacity position it uniquely to lead this transition.
Exporting green iron (Hot-Briquetted Iron - HBI) is the most cost-effective way to support decarbonization in APAC.
Challenges:
Accelerating the deployment of renewable energy is essential, requiring up to 330 GW of capacity to replace 10% of Asia's steel-making emissions.
Development must balance decarbonization with environmental and community safeguards, including protecting biodiversity hotspots and engaging Indigenous landowners effectively.
Recommendations:
The Australian government must implement incentives for regenerative and decarbonization initiatives.
Collaboration with APAC countries to establish carbon pricing and green value chain standards is critical.
Efforts should focus on creating green iron production hubs and enhancing renewable energy deployment rates.

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Substitute the panda pic for a pink unicorn, cos pandas exist.

Green steel, the same as fairy floss for gay whales.

Albo has laid out $2.4 billion for hydrogen steel at Whyalla
which is losing millions a week, has broken decades-old machinery
and 1000 union staff with union rules book in front pocket.

What could go wrong?
MGT Price at posting: 9.5¢ Sentiment: None Disclosure: Not Held
5 Upvote

3 Great analysis

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Understanding the demand for Green Steel, page-1171

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