RE: "very high-grade iron ore"2 Sep 2025 13:26
It’s also why Fortescue’s founder, Andrew Forrest, warns of the risks to the Pilbara’s future unless Australia learns to produce green iron and even green steel at a competitive scale and cost.
Vale’s executive vice president for commerce and development, Rogerio Nogueira, sees it differently, although he concedes that evolving technology could change the game.
“The challenge the steel makers have is redesigning processes that will reduce it [CO₂] today,” he tells The Australian Financial Review. “The traditional process is coal-based, so they will need to migrate the processes to be natural gas-based.”
Over time, he says, natural gas might be replaced by hydrogen in a very gradual transition. But either process would require really high-grade ore with a very low percentage of contaminants such as silicon or alumina.
The steel supply chain will evolve of course - just doubt it will evolve at the pace Zanaga shareholders would like to observe. That said, somebody at some point is going to make a big bold statement, whether as an acquisition or investment in new technology. But again, all that takes time to play out ,,,,,,