LIBERTY Welcomes Australian Government Grant To Support Green Iron And Steel Expansion

31 January 2024

LIBERTY Steel Group welcomes today’s Australian Government announcement that it will inject significant funding into the Australian steel industry including a $63.2 million grant to LPMA Whyalla, LIBERTY’s environmentally sustainable steel development in South Australia.

The Australian Government grant, announced by Minister for Climate Change and Energy Chris Bowen, will support LPMA Whyalla’s installation of low carbon Electric Arc Furnace (EAF) technology, and the integrated development of LIBERTY’s billions of tonnes of high-quality magnetite ore which will transform Whyalla into an international green iron and steel export hub.

LPMA is committed to working in close partnership with the South Australian and Federal governments to develop both EAFs and a broad range of renewable energy and greener technologies including hydrogen.

The South Australian government has committed to build the world’s largest hydrogen electrolyser at Whyalla as part of its long-term plans to ensure the continued production of high-quality Australian steel both for domestic use and to be exported to customers around the world. LPMA Whyalla in September closed its coke ovens in preparation for the shift to EAF technology.

LPMA’s parent company GFG Alliance has an industry leading ambition to become carbon neutral by 2030 (CN30).

GFG Alliance Executive Chairman, Sanjeev Gupta said:

“This grant signifies that our transition to producing greener steel is wholeheartedly supported by a government that understands the importance of retaining an industry that employs Australian workers and underpins Australian communities and businesses.”

Whyalla in the not-too-distant future will be the global epicentre for manufacturing low carbon iron and steel. It has all the contributing elements required to dictate and dominate the green steel industry – location, natural resources, future ability to generate abundant renewable energy, a robust, engaged workforce, deep water port, supportive government and invested owners.”

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