Steelmakers globally are under increasing pressure to reduce carbon emissions, driven by investor demands and the looming EU carbon border adjustment mechanism. To address this challenge, the industry is looking towards alternative methods to produce iron, with direct reduced iron (DRI) steelmaking using green hydrogen emerging as a promising solution. Australia, with its abundant renewable energy sources, is poised to become a leader in 'green iron' production for export to eco-conscious steelmakers. Australia has introduced strategic plans like the Future Made in Australia initiative and the Future Gas Strategy, which present conflicting paths for the future of iron production. While the former focuses on green hydrogen incentives and domestic use, the latter advocates for continued gas utilization in the steel sector as a transition fuel towards hydrogen. The government's Hydrogen Production Tax Incentive and the Hydrogen Headstart program aim to boost green hydrogen production and utilization domestically. However, the Future Gas Strategy highlights the importance of gas as a support mechanism for the economy during the transition to net zero, especially in steel manufacturing. For Australia to achieve truly low-carbon iron and steel production, it must navigate these divergent strategies and choose a coherent path forward that considers national competitiveness. The decision made will significantly impact Australia's position in the global green iron and steel market.