Mining Summit 2024: Top Hancock executive Sanjiv Manchanda says...

Mining Summit 2024: Top Hancock executive Sanjiv Manchanda says Cook’s California dream out of WA’s reach (copyright link)

The head of projects at Hancock Prospecting says a plan to make Western Australia the “California of Australia” was riddled with regulatory shortcomings that will hold back the transition to green steel.Sanjiv Manchanda, one of the most senior executives inside Gina Rinehart’s private mining group, said WA Premier Roger Cook’s magnetite gamble was attractive to Hancock but needed fiscal and legislative support to be realised.

Magnetite is particularly suitable to green steelmaking because in its natural form it contains a higher concentration of iron than the iron ore for which the Pilbara is best known. However, magnetite projects require energy-intensive processing. While some producers are desperate for renewable power to replace fossil fuels they rely on, Mr Manchanda said emissions may just have to go up to create green steel elsewhere.

“In other words, there’s a lot more change that needs to be done to enable magnetite, and we don’t have cheap power.""

Well I know where there is an abundance of that + state/federal support + abundance of magnetite + close to port = South Australia.

MGT for the win.