Ann: Mineral Resource Upgrade, page-412

There is a lot talked here about green steel and costs. A few years ago I did significant research on steel input costs in a different context but I thought a few items might be of interest. Around the world, labour costs are not a big component of the cost of the finished product. Cost of electricity is a much bigger factor than the cost of labour. Given the stupidity of the electricity regime in this country, we are very unlikely to be able to compete with countries like India and China which have very sensibly largely stuck with the traditional cheap electricity from coal, or countries well endowed with sources of hydro or thermal power.