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Fortescue CEO: Australia may lose leader positio-有色金属展-铜材展-2025年广州国际有色金属工业（铜业）展览会-Non-Ferrous Metals Exhibition-Copper Exhibition-The 25th China(Guangzhou) Int'l Non-Ferrous Metals (Copper) Exhibition
11/4/2024 有色金属展-铜材展-non-ferrous metals expo |
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Dino Otranto. CEO of Australian iron ore miner Forescue Metals Group, has stated during his speech at international Mining andResources Conference (lMARC) in Svdney that Australia mav lose its eader position in the alobal iron ore market if it does notmake a prompt switch to green iron production, according to a report by Reuters.Mr. Otranto stated that, even though Australia is the world''s largest iron ore supplier, accounting for around half of global supplythe Pilbara grades are generally too low to be converted into steel without using coal. He pointed out that, as a result, having setdecarbonizaion targets, steelmakers are in search of alterative iron ore sources, damaging Australia''s top export market.
The Fortescue CEO highlighted that competiion from other regions, such as the Middle East with its respective green steelproiects and Guinea with its Simandou iron ore mine slated for start-up next year, is increasing."That is a high-grade deposit goingstraight into the steel mills in China," he commented regarding the Simandou iron ore project.
Meanwhile, Mr. Otranto said that the Australian government and the mining industry need to join forces to cut energy costsspecifically. "We have to bring in Chinese manufacturing of solar panels and wind turbines, because they are doing it better thananyone else. Automating robots for installation would cut labor costs to helo make green iron production economic" he stated. TheFortescue oficial also added that thev cannot lose the opporunity to place the 600-700 milion mt of ron ore that Australla shipsout.
Additionally, he exoressed that. as of2025, Fortescue will start producing 2.000 mt of areen iron per year using green hydrogerfrom its solar farms at its Christmas Creek operations.
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