Green Iron SA consortium launches to spearhead a green iron industry

A consortium comprising Magnetite Mines, Aurizon Holdings, Flinders Port Holdings and GHD has been officially launched to accelerate the establishment of a green iron industry in South Australia. Green Iron SA aims to harness the untapped potential of South Australia’s Braemar Iron Region together with the state’s renewable energy capacity to position South Australia as a global leader in the low-carbon steel supply chain.

The consortium says these natural comparative advantages have created the generational opportunity for the establishment of a significant new green iron export industry in Australia to meet the steel decarbonising needs of Australia’s key trading partners.

Green Iron SA is proposing a phased development pathway, enabling the necessary foundations to be put in place to ensure the creation of a green iron industry in the state is sustainable.

The consortium’s project starts with fast-tracking the development of the Razorback Iron Ore Project, thereby creating a secure supply of high-purity magnetite, a feedstock critical to the production of green iron. The project then progresses to the production of direct reduction (DR) grade pellets and ultimately manufacturing and exporting direct reduced iron (DRI) in the form of hot briquetted iron (HBI) from the established industrial city of Port Pirie by the early 2030s.

By using natural gas and green hydrogen when available, Green Iron SA is seeking to address the urgent need to make significant reductions in carbon emissions in global steel production, and in doing so deliver substantial economic benefits to the Upper Spencer Gulf region, including long-term job creation and community revitalisation.

To realise its vision, Green Iron SA calls for government collaboration to remove key infrastructure barriers — particularly in water, power and logistics — to unlock the full potential of the Braemar Iron Region.

“The time has arrived for South Australia to take advantage of its massive magnetite endowment,” said Tim Dobson, Managing Director, Magnetite Mines. “With six billion tonnes of magnetite resources ready to mine, Magnetite Mines is excited to take this important step toward building a world-class green iron industry in South Australia.”

“Opening up the Braemar requires an integrated logistics solution that can move vast quantities of iron ore efficiently and sustainably,” said David Steele, Head of Customers & Growth, Aurizon Holdings. “Aurizon is supporting the development of a project critical to addressing the challenge facing the steel sector’s carbon emissions by providing the rail and freight infrastructure that will make South Australia’s green iron industry globally competitive.”

“The Port Pirie precinct offers a unique opportunity to develop a state-of-the-art export hub,” said Stewart Lammin, Chief Executive Officer, Flinders Port Holdings. “By leveraging existing infrastructure, we can fast-track the transition to a green iron industry and contribute to the economic prosperity of the region.”

Green Iron SA has commenced discussions with the South Australian and federal governments to secure the necessary partnerships and infrastructure required to enable its role in establishing an Australian green iron industry.

Image caption: Green Iron consortium members Brad Weston (Commercial Manager, Aurizon), Tim Dobson (Managing Director, Magnetite Mines), Stewart Lammin (CEO, Flinders Port Holdings) and Mike Nolan (Executive Leader – Resources and Energy, GHD). Image: Supplied