fmg should invest to develop a technology to transfer hematite to HBI, hot briquetted iron. Green steel is the next step, not so important.
At the moment all direct reduction processes are working with magnetite iron ore. the world have not magnetite iron ore, most is hematite. if the world leaves met coal, they leave blast furnaces. A new technology is needed. a direct reduction plant for hematite is a money printing machine, because hematite is much cheaper than magnetite. if FMg would have the patents, the cash flow on this would be immense.
Carbon issue from met coal in steel production is one of the biggest issue in climate change.
Mike
Iron ore price, page-27439
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