Canadian green iron industry could be worth billions, create 14,000 jobs -⁠ report

Canada could become a global leader in green iron production by seizing a market opportunity valued at up to C$25 billion annually while creating up to 14,000 new jobs, according to a new report released this week–Strategic Decarbonization of the Canadian Iron and Steel Industry.  The report, authored by Canadian Dr. Chris Bataille at Columbia University’s Centre on Global Energy Policy and Jonas Algers at Sweden’s Lund University, outlines the technological and global context shaping Canada’s iron and steel transition.  It outlines the sector’s shift from being deemed “hard-to-abate” to increasingly decarbonizable thanks to advances in hydrogen-based direct reduction technologies and growing pressure from geopolitical realignments and climate commitments. The authors detail the major low-emission steelmaking routes, including both green and blue hydrogen pathways, and assess their cost-competitiveness in a rapidly evolving global market. The report identifies “a vast but unrealized potential for Canada to shift from exporting raw iron ore to value-added green Hot Briquetted Iron (HBI)”—especially by harnessing renewable energy in regions like Québec and Labrador. “The Canadian government has set the target to reach “net-zero” emissions by 2050, which will require a rapid reduction of domestic emissions,” the authors note.  “The rest of the world will also need to transition away from using fossil energy, presenting a critical opportunity for Canada, a major iron and metallurgical coal exporter, to reimagine its contribution to the global market.” The report spotlights Québec and Labrador’s iron ore regions—already home to rich deposits, low-emissions hydro, and an experienced workforce—as “ideally suited to lead this green transition.” “Rather than shipping millions of tonnes of raw ore the authors point out, these regions could become global hubs for value-added, net-zero-aligned iron exports,” the report reads.  “The Québec grid is well-developed, having been built to transport hydropower from the north to population centres in the south. This could be an important asset if new, power-intensive iron reduction plants were located in the area.”  The authors point to existing infrastructure, such rail tracks, needed to transport iron ore to the coast, and ports that could be used for shipping green iron.  “These assets would be key to a rapid transition and quickly establishing Québec and Canada as a reliable supplier of green iron ore,” they write.  The authors point out that Canada exported over 44 million tonnes of iron ore in 2023—most of it in raw, emissions-intensive form, and argue that direct reduction of iron using hydrogen and renewables could cut global steel emissions dramatically—if Canada moves quickly. The full report is here.  Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com