Representatives from some of the world's biggest companies in sectors including mining, steel and energy are descending on Adelaide today for a major forum of companies interested in investing in South Australia's green iron and steel future.
It comes as the State Government outlines a path to be a leader in the global decarbonisation of iron and steel, with the Government today unveiling a Green Iron and Steel Strategy.
The strategy outlines three objectives and nine key actions the Government will lead to establish a world-leading green iron industry and supply chain in South Australia, including the ambition to facilitate a new hydrogen-based green iron plant in South Australian by 2030 or earlier.
The commitment is backed by a $3.6 million investment in this year's State Budget to support a global expression of interest (EoI) process to engage companies in developing a green iron industry and supply chain in South Australia.
The first part of the EoI process will see companies working with government in a four-month detailed engagement process to define ways to support industry investment in South Australian green iron.
More than 150 organisations are registered to attend an industry forum on Thursday June 20. These include BHP, BlueScope, Fortescue Energy, GFG Alliance, Nippon Steel, NatSteel, Thyssenkrupp, Lodestone Mines, Magnetite Mines, Iron Road, ZEN Energy, Epic Energy, Flinders Port Holdings, ElectraNet, Aurizon, Cavpower and HSBC Bank.
Companies will have until October 1 to submit their EoI. A report outlining submissions and next steps will then be developed and is expected to be released before the end of the year.
The release of the strategy and the commencement of engagement on the EoI builds on a study released last month demonstrating that South Australian green iron has a 21 per cent cost advantage when compared with shipping its raw components to Europe.
That study referenced South Australia's significant magnetite resources, its early leadership in renewable energy and hydrogen economy, and the co-location of these natural advantages with existing steelmaking and smelting facilities.
More information on the Green Iron Strategy and Expression of Interest can be found at energymining.sa.gov.au/greeniron.
As put by Peter Malinauskas
South Australia is building a world-leading green iron industry and supply chain – this Expression of Interest is a decisive step in that process.
With our abundant magnetite resources and renewable energy generation, South Australia is well placed to become a global green iron powerhouse.
South Australia offers an unparalleled opportunity for companies to be part of the green iron transformation, and this Government is committed to doing what is required to a partner of choice for industry in achieving this global ambition.
The Green Iron Opportunity is not just for steelmakers – these opportunities span all the way from the 'pit to the port' and will see investment along a large supply chain that includes mining, infrastructure, energy, technology and more.
As put by Tom Koutsantonis
The Green Iron and Steel Strategy will focus South Australia's efforts, our innovation and the state's natural advantages into making us a global partner of choice in decarbonised steelmaking.
Our leadership through massive investments into renewable energy, batteries and hydrogen has put us in the position we're in now. The next step is to export our abundant resources and energy to the world, and green iron gives us an opportunity to do both.
With world-leading regulation such as the Hydrogen and Renewable Energy Act, South Australia is committed to making it easier to do business here and attract investment into our green iron industry.
Working together we can make green iron production a reality. This Expression of Interest signals our commitment to work with industry to achieve this ambition and establish a world-leading industry and supply chain that benefits South Australia for generations to come.
