I see that comment as the key message Atrium want to get recognised in the process. In large part it is true and so hopefully they and other producers get traction with it. However there is a large amount of other propaganda out there about green steel which is a bit of an exaggeration. The reality as far as my understanding is that steel recycling can be done without new coking coal and new steel could be produced with Hydrogen as the main furnace heating energy with smaller volumes of coking coal added, not to heat but to incorporate carbon into the steel. That will continue to require Coke but eventually may be in smaller quantities. The relative volumes I do not know and nor can I guess at.
Not getting that message through is the potential down side of this mess.
The upside of this for Atrium is that they still can proceed under the reinstated previous policy and for the Government to retrospectively disallow the project would lead to significant compensation claims in my view. So the real hope lies in what kind of compromise to the mining plan that can be struck. The Independent Policy Committee is still only an advisory committee and the Albertan Government still needs to make the decision.
At first glance the committee does not seem to have any pro mining industry representation. (This may be a political choice to make sure it does not look like undue industry influence - but that approach has risks for both the Government and ATU.) The Chamber of Commerce person is an a renewable energy advocate. So the mining industry must make plenty of noise to be heard and must also lobby Government on economics. In the end the quality of the compromise will depend on the economic argument including jobs.
So I agree there is a chance. However there is much hard work to be done to get there. ATU management has made the right decision to stop everything to focus on the policy process and I hope that ATU is not the only voice in the wilderness. All my opinion only.
GLTA
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