The Western Australian (WA) Government has released a new report which details the State’s potential to join the rapidly growing global green steelmaking value chain.
The Minerals Research Institute of Western Australia (MRIWA) said that the State has played a central role in the growth of the global steel industry for over 60 years.
“Steelmaking is a very energy intense process resulting in the global steel industry being one of the largest carbon emitters in the world… it is important to understand the significant challenges steelmakers are facing to reduce emissions in their operations,” the MRIWA said.
As a response to this issue, the MRIWA and the WA Government created the Western Australia’s Green Steel Opportunity report. It maps five ways in which WA iron ore can be used to reduce emissions from steelmaking.
The report considers the size and scale of the capital requirements and infrastructure needed for these pathways, and it identifies the State’s access to natural gas and renewable energy resources as key to supporting emissions reductions in steelmaking.
WA Premier Roger Cook said the report will help position the State as an investment destination for low-emissions steel opportunities.
“Our State’s abundant renewable energy resources alongside our world-leading iron ore industry puts WA front and centre in the global push towards green steel. Moving up the green steel value chain will diversify our economy and create more local jobs right across the State,” Cook said.
Mines and Petroleum Minister Bill Johnston said the State Government has a comprehensive understanding of the challenges facing the steel industry in its decarbonisation efforts and opportunities.
“The transition option of using natural gas has the potential to reduce emissions from iron making by 65 per cent and is technically feasible today. This information can be used to support investment attraction into Western Australia,” Johnston said.