The iron/steel industry is a critical sector with significant carbon emissions, accounting for 7-9% of global emissions. As the demand for steel continues to rise with population and economic growth, decarbonizing this industry is crucial. This paper focuses on assessing the financing needs and viability of a green hydrogen-based ironmaking project in a developing country. The goal is to export green iron to developed countries where steel production takes place. Various technical and market challenges are evaluated, including ensuring a clean electricity supply, securing raw materials, managing market risks, and dealing with the green premium. The authors propose potential solutions to overcome these challenges. Additionally, the paper delves into the commercial aspects of such a project, discussing the necessary agreements and structures to make it financially feasible. It also outlines the debt and equity requirements for the project. Overall, the study highlights the importance of transitioning towards green hydrogen in the iron/steel industry to combat climate change and meet sustainability goals.