Otranto, in his presentation to investors on Wednesday, stated that construction of Fortescue’s Green Metal project at the Christmas Creek mine is continuing and that first production is targeted for this year. The CEO emphasized that the project will be the first large-scale green metal production facility in the Pilbara.
“The steel industry is changing. Customers want low-emission steel. China is looking for partners to make that happen. If the Pilbara wants to stay in the game, that means working with China to decarbonise its steel industry,” he said.
Otranto highlighted that there is a significant opportunity for both Australia and China, noting that Fortescue continues to develop its green metals strategy and that he will travel to China next month to meet with steel producers and renewable energy companies.
The Christmas Creek pilot facility is part of Fortescue’s “green mine-to-product” supply chain plan for the Pilbara. The company aims to demonstrate the technical feasibility of commercial-scale green metal production by combining its green mining fleet with green iron production technology, using magnetite and hematite ores.
Fortescue has previously announced plans to supply more than 100 million tonnes per year of green iron metal to China, with the goal of eliminating over 200 million tonnes of CO2 emissions annually. The company argues that reimagining the entire iron and steel value chain will lay the foundation for a new green industry in Australia.
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