Fortescue Collaborated with China Baowu to Produce Sponge Iron Using Green Hydrogen, Achieving Decarbonization in the Steel Industry

Australia's Fortescue announced on Wednesday that it will collaborate with a wholly-owned subsidiary of China Baowu Steel Group, the world's largest steel manufacturer, to address decarbonization challenges in the global steel industry.

"The partnership with China Baowu will help further accelerate the development of green steel technologies and ensure we can meet the growing demand for green steel both domestically and overseas."

Fortescue's green iron project at Christmas Creek in Western Australia is currently underway, with an expected annual production of over 1,500 metric tons of green iron. The first production is anticipated in 2025. The company also plans to make all its iron ore products green by 2030. The plant will use green hydrogen in reduction furnaces to convert iron ore into sponge iron, which will then be processed in electric melting furnaces to produce high-purity green iron.