Green Steel is more a concept of having to use less carbon and...

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MrStrengths

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06/04/22

13:20

Post #: 60686926
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Originally posted by luvkakuwadu: ↑

There is a really good article about hematite vs magnetite in Eames's whitepaper .Why we need Magnetite’s high-grade iron ore - and heaps of it - to turn the steel industry green - *.

So in summary:
1) Expensive: You can use hematite as a blend and via processing extract the higher grade ore HOWEVER they will end up using more energy this way so not ideal for their carbon footprint and it is bloody expensive. It talks about how BHP and RIO lost billions trying.

On the flipside the previous article that I posted re: the guys in SWEDEN creating "sponge ore", I ma not sure if that was done via hemetite vs magnetite. I just assumed it is MAGNETITE but i know that you can produce sponge ore from HEMATITE too. Did they succeed where BHP/RIO failed? Dont know.

2): Declining supply of high grade hematite: After decades of mining, it is expected that hematite will deplete by 2050 whilst magnetite is abundant so that is definitely a factor too

In conclusion, I understand why high grade ore is required but I want to know if hematite is in that picture because to me, THAT will be the difference between a 30 cents MGT vs a $2 MGT.

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Green Steel is more a concept of having to use less carbon and energy due to higher grade ores with less impurity.

magnetite is higher grade iron with less impurity.
therefore less other stuff used,
and energy saved.

MGTs ore concentrate is very good.
ore resource at our muster dam tenement indicates better again.

we're on a really good ship.

MGT Price at posting: 3.3¢ Sentiment: Buy Disclosure: Held
5 Upvote

3 Great analysis

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