To reach net zero emissions by 2050, steelmakers must switch...

To reach net zero emissions by 2050, steelmakers must switch production methods from blast furnaces that consume coal to green hydrogen-based direct reduced iron (DRI) processes

To reach net zero emissions by 2050, steelmakers must switch production methods
However, DRI technology requires a higher grade of iron ore than blast furnaces – typically at least 67%.

“Increased focus on magnetite mining is one option. Magnetite iron ore is often more suitable and preferable for further processing and producing iron ore concentrate and pellets of DR-grade quality,” says Basirat.
“There may also be the possibility of beneficiation of some existing iron ore production towards DR-grade.”
Bloomberg New Energy Finance (BNEF) anticipates 59% of primary steel production coming from DRI-EAF processes by 2050 under a net-zero steel sector scenario.
“This would mean 889Mt of steel production from DRI-electric arc furnace (EAF) by 2050, requiring a tenfold rise in DR-grade iron ore supply unless technology innovations allow DRI processes to use lower-grade ore,” says Basirat.



Nicholas says when it comes to carbon emissions, steel has a reputation as a ‘hard to abate’ sector.
“The challenge imposed by limited DR-grade iron ore supply on plans for a large global scale-up of DRI production is significant.