2.5 Mtpa green steel project progresses in SA

Lincoln Minerals has announced it has made a comprehensive submission to the South Australian Government aimed at developing an end-to-end domestic green iron and steel supply chain, including the construction of a government endorsed 2.5 million tonne per annum (Mtpa) green steel plant.

The plant, to be located on the Eyre Peninsula in South Australia with access to Port Lincoln and a new deep water port being developed at Cape Hardy, is part of the state government’s Green Iron and Steel Strategy Expression of Interest (EOI) process.

The government aims to shortlist parties for further discussion in the first half of 2025.

Lincoln said it was in discussions with potential green steel producers for the project, which is underpinned by a 1.2 billion tonne (Bt) magnetite resource – magnetite is the form of iron ore best suited to direct reduced iron reduction processing into green iron and steel.

Lincoln’s Chief Executive Officer Jonathon Trewartha said: “Lincoln’s Green Iron Project is underpinned by our magnetite project, which we understand is the best potential magnetite supply source for the South Australian government’s proposed domestic Green Iron and Steel supply chain.

“Based upon a review of current data, the project has an aspirational goal of producing 6Mtpa of high quality magnetite concentrate to supply both a domestic supply chain as well as potential for export tonnes to the global green steel industry.

“We are also commencing the next phase of our Green Iron Partnering process, whereby we are seeking to engage with both domestic and global steel industry participants who seek to partner with Lincoln to develop this project.”

Mining and green hydrogen developer Iron Road has received Foreign Investment Review Board approval for its giant Cape Hardy hydrogen and metals manufacturing project being developed with partner AMP Energy,

Lincoln said it was commencing a formal Expression of Interest process to identify interested parties who will engage with Lincoln to advance the Green Iron Project through to production of Green Iron and Steel supply chains.

“Lincoln will engage with all interest parties to advance the project, which could include staged funding and development, pure export focus or mix of domestic and export, as well as potential for a substantial
investment in domestic green iron and steel making assets for which the Green Iron Project would be the primary feed-source of high-quality magnetite.”

South Australia’s green iron and steel plans are underpinned by the government’s construction of a hydrogen electrolyser and power station and regional desalination plant to supply water at Whyalla.

Further reading:
FIRB approval unlocks payments for Iron Road
Magnetite to green iron project beckons for Lincoln Minerals
Trends back rebirth of Australian green iron and steel sector

Image: Lincoln Minerals