The Chamber of Minerals and Energy Western Australia (CME) has released a report on Western Australia's potential in green iron production to decarbonize the steelmaking process. The report highlights that large-scale green iron production in the state could significantly reduce global emissions by 1.2% by 2050. This reduction would effectively offset almost all of Australia's current CO2 production while adding $74 billion in economic value and supporting 19,600 direct jobs. The CEO of CME, Rebecca Tomkinson, emphasized that Western Australia, as a significant iron ore exporter, has the opportunity to advance down the value chain by refining green iron. The report suggests that transformational reductions in ironmaking emissions can be achieved through low-emission energy sources and the commercialization of new technologies. One prospective approach examined in the report is a hydrogen-based ironmaking process that would require a $37.5 billion investment by 2030 to produce an initial 4.5 million tonnes of green iron. This investment would focus on developing new energy infrastructure, green hydrogen and iron production facilities, desalination plants, and upgrading ports and roads. To accelerate the transition to low-emission ironmaking, the report's 2030 action plan outlines key areas for the Australian Government to prioritize, including expanding research and development support, providing tax incentive grants, and boosting investments to reduce the cost of low-emission energy. This initiative is expected to create new job opportunities and ensure the sustainability of the iron ore industry. Andrew Forrest, the Executive Chairman of Fortescue, emphasized the importance of green iron for combating climate change. He highlighted the economic potential of green iron production, stating that Australia could develop its largest industry by generating substantial revenue and creating numerous well-paid jobs. The report's findings suggest that with government support and the right vision, Western Australia could become a significant producer of green iron before 2030, securing economic prosperity for future generations.