G'day Tris,
If you're not sold on Green Steel, hopefully this might convince you...
- How's the pollution in your city?
- It takes around 770 kilograms of coal to make one ton of steel.
- At $300/tonne thats about $231 of coal per tonne of steel
- 50 kg of hydrogen required to produce 1 ton of steel
- 231/50 = $4.62 per KG of hydrogen to be cost neutral OPEX with coal!
- $4.62 is VERY ACHIEVABLE! Especially in the Pilbara's great sunshine.
- But, we're not going to make Steel (IMO), we will make Pig Iron,which can be then fed into China's EAF with almost zero pollution, clearing the skies over China.
- The OPEX cost difference of Coal vs Hydrogen should be almost zero, and China doesnt care if the steel is made with Hydrogen or Coal if the price is the same.
- It will take a few decades, existing blast furnaces will slowly be decommissioned and replaced with newer tech... but why can't it work?
Iron ore price, page-52919
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