Global green hydrogen-based steel opportunities surrounding high...

Global green hydrogen-based steel opportunities surrounding high quality renewable energy and iron ore deposits | Nature Communications



To summarize, this is what i got from the article:
1) The most promising options to decarbonise ironmaking are: (i) green hydrogen(H2)-based direct reduction of iron (DRI), (ii) natural gas (NG)-based DRI with carbon capture, utilisation and/or storage (CCUS), (iii) traditional blast furnace (BF) or smelting reduction (SR) with partial substitution of coal with biomass and CCUS, and (iv) direct iron ore electrolysis.
2) H2-DRI combined with the electric arc furnace (EAF) (termed H2-DRI-EAF) has widely been regarded as a leading deep decarbonisation option despite a range of issues to be addressed, thanks to the intensifying industrial investments16, successful pilot by Swedish forerunners17 and planned commercial production by 2025.
3) Vast quantities of renewable energy (RE), the supply of which is often subject to variability and intermittency is required
4) iron ore supply must adhere to strict quality requirements to preserve steel quality and iron- and steelmaking productivity. Two flexible processing options have emerged: (i) BF-grade iron ore pellets may be used in the DR shaft furnace, and (ii) the use of DR-grade (or potentially BF-grade) iron ore fines in DR with fluidised bed reactors. Both products that MGT can/will produce.
5) DR-grade ore constitutes just 4% of current global seaborne trade, and accessible high-grade ore reserves are decreasing with cumulative extraction.
6) Iron ore producers are aware of the threat of increasing DR production to their product marketability; ore reserves suitable to serve the DR-grade market remain limited
7) Supply of renewable energy is a challenge where the current high grade ore is found i.e. russia, PNG, etc. Besides sweden, MGT is best placed in South Australia.

It is a no brainer now that the market needs our product by 2030. If management manages to get this off the ground, It is pretty likely that we could be the next CIA (champion iron limited). DYOR.