South Australia Emerges as a Global Leader in Green Iron and Steel Innovation
Key Ideas
  • South Australia unveils Green Iron and Steel Strategy with a focus on decarbonisation and green industry, aiming to establish a hydrogen-based green iron plant by 2030.
  • A $3.6 million investment supports a global Expression of Interest process to engage companies in developing the green iron industry in South Australia, attracting major players like BHP and BlueScope.
  • The strategy leverages South Australia's magnetite resources, renewable energy, and early leadership in hydrogen to create a cost-competitive advantage over shipping raw materials to Europe.
  • Government commitment to world-leading regulation, such as the Hydrogen and Renewable Energy Act, aims to make South Australia a preferred destination for green iron investments, benefitting multiple sectors along the supply chain.
Representatives from leading companies across sectors like mining, steel, and energy are convening in Adelaide for a forum focused on investing in South Australia's green iron and steel future. The State Government has introduced a Green Iron and Steel Strategy to position the state as a front-runner in global decarbonisation efforts for the iron and steel industry. The strategy outlines objectives and actions to establish a world-leading green iron industry and supply chain, with plans to facilitate a hydrogen-based green iron plant by 2030. A $3.6 million investment from the State Budget is supporting a global Expression of Interest process to engage companies in this initiative, with over 150 organizations, including industry giants like BHP and BlueScope, participating in the forum. South Australia's abundant magnetite resources, renewable energy assets, and existing steelmaking facilities give it a competitive edge, as evidenced by a recent study showing a 21% cost advantage for green iron production in the region. The government's commitment to world-leading regulation, including the Hydrogen and Renewable Energy Act, aims to attract investments and establish a robust green iron industry and supply chain. This initiative is seen as a transformative opportunity that extends from mining to infrastructure, energy, and technology sectors, positioning South Australia as a key player in decarbonised steelmaking and global green iron production.
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