Our GREENSTEEL journey starts with magnetite

We have taken a significant step in our GREENSTEEL transformation journey in Whyalla, Australia, with the start of our magnetite high-quality iron ore expansion. GFG’s mining arm, SIMEC Mining, is completing construction of the first of a two-phase de-bottlenecking process which will increase magnetite concentrate production to 2.5 Mtpa.

This work marks an important step in our journey to develop South Australia’s vast magnetite resource to support its CN30 ambitions. Check out this video below, where Sanjeev and the SIMEC Mining team explain why it’s such an exciting development:

Processed magnetite concentrate is a high-quality energy efficient iron ore product which is needed to feed the Direct Reduced Iron (DRI) process. DRI enables the use of hydrogen as an alternate reductant to fossil fuels, and when fed by renewable energy it makes GREENSTEEL.

This magnetite expansion work offers GFG the chance to increase exports to our steelworks in Europe and to strengthen our position as a consistent supplier of premium quality magnetite to support low carbon intensive steelmaking.

Sanjeev said: “Our purpose is to create a sustainable future for industry and society and that starts right here with magnetite – a critical enabler of our global GREENSTEEL strategy. Thankfully it’s an iron ore we have in abundance right here in Whyalla.”

“Combined with renewables, particularly solar from our Cultana Solar Farm, our port, a skilled workforce, and supportive community and government, we are in a unique and enviable position to create a world leading GREENSTEEL hub and help fulfil our CN30 mission. That’s exciting!”

SIMEC Mining General Manager Magnetite Expansion and Growth Gavin Hobart said: “High grade magnetite iron ore allows alternate iron and steelmaking technologies to be considered with lower energy demands and lower-carbon steel technologies to be considered, and that’s where GFG is ultimately heading.”

“SIMEC has a large-scale resource, an existing route to market, supply chain infrastructure in place, and over a century of mining history in the region. The team driving the expansion already intimately understand the resource and magnetite production technology and process, and we are pleased to be able to play our role in creating a greener future and helping to deliver on our CN30 ambition.”