Understanding the demand for Green Steel, page-630

Emirates Steel Arkan signs $2 billion deal with Bahrain Steel Company (economymiddleeast.com)



I was doing some late night reading and I noticed a few things about Bahrain Steel.
1) They are the LEADING producer of high grade iron ore pellets for big steel players in Saudi Arabia i.e. Arkan Steel. They are looking for a sustainable/reliable source of iron ore.
2) They source a majority of their raw iron ore from Anglo American MInas-Rio Mine in Brazil (2b tons). That mine is riddled with pollution/issues with local farmers to the point anglo american hired a CEO whose sole focus is "to reinforce Anglo American's excellence in its relationship with communities, the environment, water management, and advance throughout our journey linked to decarbonization." Basically focusing on ESG = MGT has a similar focus.
3) Bahrain Steel, which sources iron ore from Brazil, Canada, Chile and Sweden, also bought pellet feed from Mexico and Turkey= Saudi to Brazil by ship is 8000 miles, SA port to Saudi port is 8300 miles. Its entirely possible to source it from South Australia
4) The ore Bahrain steel are after = 67%FE +2.5% alumina/silica raw iron = Similar to MGT's Iron Peak's grades
5) Bahrain steel achieved 12mt/year pellets in 2021 , ensuring uninterrupted delivery to its customers which include some of the world’s leading steel producers across the Middle East and North Africa, Europe, North America, Malaysia, South Korea and China, among others.Bahrain steel signed a 20 year deal with anglo america for their Brazil ore in 2019. Anglo will supply up to 8 million mt/year of pellet feed. That tells me that they are sourcing 4mt/year of iron ore from someone else i.e. Canada, Chile and Sweden, also bought pellet feed from Mexico and Turkey = Australia next?
6) More importantly, Bahrain steel are looking to secure/diversify their sources of raw materials ensuring continuity in their production and their ability to meet the needs of their customers AFTER the force majeure contract issue with Anglo American. Anglo froze operations at Minas Rio in Minas Gerias state in March after two leaks were discovered in a pipeline that carries iron ore in slurry to an export terminal in coastal Rio de Janeiro = led to a 3 month suspension = That tells me that there are reliability issues with their brazil source.
7) Bahrain Economic Vision 2030 states that bahrain are looking to increase jobs/GDP based on NON-OIL projects. Surely, Selling high grade ore pellets is a major consideration compared to say "tourism", which is listed in potential sources of income... lol. Lets go to bahrain, said no family ever.

More importantly, MGT was in Saudi Arabia recently... Anyway just my midnight musings. Take it for what its worth. Cheers