The process of converting traditional steel production to green steel production using magnetite as a feedstock is a complex one, and the time required to complete the transition can vary depending on various factors such as the scale of production, technological readiness, policy support, and investment availability.However, it is worth noting that several companies and organisations have already started investing in the development of green steel production technologies, and some are already producing green steel using magnetite. For example, HYBRIT (a joint venture between SSAB, LKAB, and Vattenfall) has already begun producing fossil-free steel using magnetite in Sweden, and plans to expand production to other parts of Europe.That being said, the process of converting the entire steel industry to green steel production will likely take several years, if not decades, due to the large scale of the industry and the complexities involved in transitioning to new technologies. It will require significant investments in research and development, infrastructure, and policy support to accelerate the transition.
This is a sample of what should be included to Mgt announcements so as to make it clear to any investors what is ahead, instead we had a PFS statement saying first shipment 2024-2025, 100% green steel is a long way off.
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