Business
Twiggy Forrest’s Fortescue targets zero-carbon steel to phase out coal – Sydney Morning Herald
‘Twiggy’ Forrest says the time is right for an Australian green steel industry, harnessing the nation’s abundant iron ore and renewable energy resources.
Fortescue, one of the nations biggest iron ore miners, generated $US940 million in December as booming demand for the steel-making raw material in China sends prices soaring to more than $US170 a tonne.
However, the steel-making industry which mixes iron ore and coking coal in blast furnaces heated to more than 1000 degrees is a significant contributor to global warming, accounting for 8 per cent of the worlds emissions.
Steel producers have begun trialling cleaner steel-making processes using hydrogen,…
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