MINEX Forum

Tag: low-carbon steel.

  • Binding Solutions and Mitsui Partner on Low-Carbon Iron Ore Pellets in Australia’s Pilbara

    Binding Solutions and Mitsui Partner on Low-Carbon Iron Ore Pellets in Australia’s Pilbara

    UK-based Binding Solutions has entered into an agreement with a subsidiary of Mitsui & Co to develop low-carbon iron ore pellets using material from Western Australia’s Pilbara region, one of the world’s largest iron ore hubs.

    Under a newly signed memorandum of understanding with Mitsui Iron Ore Development, Binding Solutions will apply its proprietary cold agglomeration technology to convert lower-grade iron ore fines into pellets. The company says the process significantly reduces energy use and carbon dioxide emissions compared with conventional pelletizing methods, which rely on high-temperature heat treatment.

    Binding Solutions chief executive Jon Stewart said the work already carried out with Mitsui’s unit demonstrates strong commercial potential. According to Stewart, the ability to upgrade Pilbara iron ore fines into premium pellets opens up a sizeable new market opportunity, particularly as steelmakers seek cleaner feedstock options.

    The preliminary agreement focuses on utilizing fines that would otherwise require sintering, a highly energy-intensive and polluting step, before they can be used in traditional blast furnaces. Pellets produced via Binding Solutions’ method can bypass this stage and are also suitable for electric arc furnaces, which are increasingly being adopted by steel producers aiming to lower emissions.

    Mitsui holds iron ore interests in the Pilbara through partnerships with major miners including BHP and Rio Tinto. In 2024, the Japanese trading house agreed to acquire a 40% stake in Rio Tinto’s Rhodes Ridge iron ore project in Western Australia for $5.34 billion.

    Binding Solutions has previously completed industrial trials of its technology with British Steel and Germany’s Salzgitter and is now working toward the development of a full-scale industrial plant to commercialize the process.

  • GravitHy Secures €60 Million to Decarbonize Steel

    GravitHy Secures €60 Million to Decarbonize Steel

    GravitHy, the pioneering green steel company, announced the successful close of a €60 million funding round, backed by prestigious investors and public funding from the French program “Première Usine.” This investment signifies a major milestone in the company’s journey to revolutionize the steel industry and drive decarbonization.

    Leading the charge with €60 million in new capital, the round attracted major players like Advantage Partners, Inc., Ecolab, Marcegaglia, Rio Tinto, and Siemens Financial Services. Existing shareholders, InnoEnergy and ENGIE New Ventures, also participated in the round, reaffirming their confidence in GravitHy’s vision.

    Accelerating Growth and Reaching New Heights

    Under the leadership of CEO Jose Noldin, this funding will finance the development of GravitHy’s industrial-scale Direct Reduced Iron (DRI) and Hot Briquetted Iron (HBI) plant in Ville de Fos-sur-Mer. The plant, scheduled to commence commercial production in 2029 after an extensive commissioning phase and gradual ramp-up, will produce 2 million tons annually, resulting in up to 90% reduction in CO2 emissions compared to traditional steel production methods.

    Nicolas Chabannes, GravitHy’s CFO, emphasizes the significance of this fundraising: “This is a crucial step in securing the necessary capital for our plant construction. The market’s interest and the commitment of our investors demonstrate the relevance of our industrial project and our ability to attract investment. We are actively engaging with all stakeholders to finalize the project financing.”

    Alice Vieillefosse, GravitHy’s Growth Officer, added: “We are dedicated to driving innovation and providing low-carbon DRI/HBI to our valued customers. We will forge strategic partnerships to ensure competitive growth and accelerate the transition towards a sustainable steel industry.”

    Generating Jobs and Empowering a Sustainable Future

    GravitHy’s groundbreaking plant is projected to create up to 500 direct jobs and contribute significantly to the regional economy.

    This ambitious project with a total investment of €2.2 billion underscores GravitHy’s commitment to transforming the steel industry through sustainable and technologically advanced solutions. With the support of its dedicated investors, GravitHy is poised to become a leading force in shaping a greener and more sustainable future for steel.

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    About GravitHy
    GravitHy is a pioneering green steel company committed to decarbonizing the steel industry through the production of low-carbon Direct Reduced Iron (DRI) and Hot Briquetted Iron (HBI). GravitHy aims to deliver superior quality, sustainable steel solutions, contributing to a cleaner and more sustainable future for generations to come.

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  • Baffinland, German firm explore low-carbon steel production

    Baffinland, German firm explore low-carbon steel production

    Baffinland Iron Mines Corp., the largest private-sector employer in the territory, has joined forces with German steelmaker ROGESA Roheisengesellschaft Saar mbH to explore the development and production of low-carbon “green” steel using iron ore extracted in Nunavut.

    The collaboration, formalized through a memorandum of understanding, aims to further investigate the utilization of iron ore sourced from the Mary River Mine, situated on northern Baffin Island, in the steelmaking process, as announced by both companies in a recent news release.

    According to Peter Akman, spokesperson for Baffinland, the ore extracted at the Mary River Mine ranks among the “highest-grade direct shipping iron ore in the world.”

    The partnership aligns with ROGESA’s emissions-reduction initiatives, which necessitate high-quality iron ore, a requirement that Baffinland can fulfill.

    Carbon plays a crucial role in steel production, enhancing its strength and durability. “Green” steel typically refers to steel manufactured with reduced carbon emissions, aiming to mitigate the environmental impact of steel production.

    Steel manufacturing is a significant contributor to global carbon emissions, amounting to eight percent of the total, as reported by the World Economic Forum in 2022.

    According to Akman, the production of low-carbon or green steel is pivotal in the global transition toward reducing the environmental footprint of the steel industry.

    Baffinland’s involvement in low-carbon steel production will primarily focus on its on-site mining operations and shipping processes. Notably, the iron ore extracted at the Mary River Mine undergoes crushing and screening on-site before being directly shipped to markets, eliminating the need for concentration or processing and, consequently, minimizing tailings production.

    Regarding potential job creation at the Mary River Mine resulting from the agreement with ROGESA, Akman stated that as the company gains insights into the process, it may lead to new production developments and, subsequently, employment opportunities.

    This collaboration marks Baffinland’s third initiative to explore the utilization of Nunavut iron ore in low-carbon steel production, following similar memorandums of understanding signed last year with German steel production companies Salzgitter Group and ThyssenKrupp Steel.