The South Australian Government is keen to partner with businesses to jointly investigate the development of a hydrogen-based direct reduction iron (DRI) plant.
It is hoped that findings from the investigation will help determine the specialised industrial precincts and supporting infrastructure required to de-risk investment in green iron and steel in South Australia.
“The world needs steel, and as it seeks to decarbonise, it will increasingly need green iron and steel,” South Australian Premier Peter Malinauskas said.
“We have the key ingredients for a DRI plant in the Upper Spencer Gulf – an unrivalled resource of magnetite, and soon, a supply of renewable hydrogen, produced using our spectacular wind and solar resources.
“This is our moment – an opportunity to build a new industry, to deliver exactly what the world needs, growing jobs and prosperity in our state.”
The South Australian Government is aiming to establish the DRI plant before the end of the decade as they provide an alternative to using coal fired furnaces to convert iron ore to steel.
The DRI plants do this by using renewable sources, such as hydrogen, to reduce emissions from the process by 95 per cent.
“South Australia has an incredible opportunity before it to grow the state’s wealth on the back of a green re-industrialisation, featuring critical minerals like copper, and green iron and steel,” South Australian Mining Minister Tom Koutsantonis said.
“We are actively looking to partner with industry to make sure South Australia is the best place for investors to do business.”
Expressions of interest in the partnership will open in June.
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