Canada's Algoma Steel will switch to electric arc furnace steel production by 2024. With the electric arc furnace, the company's crude steel production will increase from 2.8 million short tons to 3.7 million short tons. Carbon emissions will decrease by about 70%.
Algoma's new quarry, which helps expand the supply of steel grades with its new vacuum degassing capacity, will match the current finishing capacity of the increased crude steel capacity.
For the company, this project will be one of the investments that will have the biggest impact on reducing greenhouse gas emissions in Canada.
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