Latest news with #greensteel
Zawya
21 hours ago
- Business
- Zawya
Oman a strategic choice for green iron: Meranti
MUSCAT - Singapore-headquartered low-carbon steel manufacturer Meranti Green Steel (MGS) is firming up plans to establish a Hot Briquetted Iron (HBI) facility at the Special Economic Zone (SEZ) in Duqm on Oman's southeast coast. Phase 1 of the project targets a production capacity of 2.5 million tonnes per year of HBI, around 60 per cent of which will be shipped as feedstock for Meranti's proposed green steel plant planned at Rayong in Thailand. The latter project, slated for commissioning in 2028, will produce 2.5 million tonnes per year of hot-rolled steel earmarked for industrial consumers of green steel across Southeast Asia. The remaining 40 per cent of HBI from the Oman project is proposed to be supplied to Meranti's offtake partners distributed around the globe. In a post on Monday, July 29, 2025, Meranti described the Oman project as a 'strategic pillar of its integrated value chain.' It also outlined several reasons for selecting Oman—and Duqm in particular—as the site for its HBI production facility. Chief among these factors, it stated, is access to competitive energy: 'Oman offers reliable, cost-competitive natural gas and a rapidly developing green hydrogen ecosystem. This makes it an ideal location for producing direct reduced iron (DRI) at scale.' Equally significant, Meranti noted, are Duqm's infrastructure and export readiness. 'The Duqm Special Economic Zone provides industrial land, deep-water port access, and efficient permitting frameworks. This supports fast-track development and efficient global distribution.' Additionally, Oman's location enables efficient supply to Meranti's steel plant in Thailand, as well as to European offtakers seeking low-emission hot briquetted iron (HBI). Shipping HBI from Oman improves logistics and lowers emissions compared to traditional supply routes, the company stressed. Earlier this month, Meranti revealed that it had received tentative commitments from the Omani government for the supply of natural gas for the HBI project in Duqm. 'With gas secured and green hydrogen partnerships advancing, Oman is now fully positioned to become a critical enabler of our mission to decarbonize iron and steelmaking,' the company stated in its most recent post. 'We are working closely with Omani authorities and our raw material partner, who are committed to sustainable industrial growth. Their support is foundational to our success,' the company added. A relatively recent entrant into the steel sector in Southeast Asia, Meranti aims to leverage the latest advancements in steelmaking and digital technologies to maintain a competitive edge. A key pillar of this strategy involves establishing geographically decoupled Hot Briquetted Iron (HBI) supply chains, sourcing from highly competitive regions such as Oman and Western Australia. This approach enables Meranti to site HBI plants in locations with strong access to competitively priced natural gas and emerging green or blue hydrogen, while situating steel production facilities closer to end-user markets. 2025 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Yahoo
3 days ago
- Business
- Yahoo
Market to Reach $1.08 Trillion by 2035 - Decarbonization Efforts Accelerate Production with EAF and Hydrogen-Based DRI Adoption
The Asia-Pacific mining steel industry, valued at $677.7 billion in 2024, is forecast to reach $1.08 trillion by 2035, growing at a 4.31% CAGR. This growth is driven by booming infrastructure, automotive, and construction sectors, fueled by urbanization and industrialization. Green steelmaking is on the rise, with electric-arc furnaces (EAF), hydrogen-based direct reduced iron (DRI), and renewable energy shaping a low-carbon future. Improving operational efficiency through digitalization and automation enhances production, while strategic supply chain investments ensure raw material availability. Despite challenges like raw-material volatility and regulatory pressures, APAC aims for leadership in sustainable mining and steelmaking. Asia-Pacific Mining Steel Industry Market Dublin, July 28, 2025 (GLOBE NEWSWIRE) -- The "Asia-Pacific Mining Steel Industry Market: Focus on End-User Application, Production Methodology, End Products, and Country - Analysis and Forecast, 2025-2035" report has been added to Asia-Pacific mining steel industry market was valued at $677.7 billion in 2024 and is projected to grow at a CAGR of 4.31%, reaching $1.08 trillion by 2035 The mining steel sector in the Asia-Pacific (APAC) region is expanding rapidly, supported by increased manufacturing production in China, India, Southeast Asia, and Australia, as well as significant urbanisation and infrastructure investment. Upstream increase in iron ore, coal, and metallurgical raw materials is being driven by the demand for steel-intensive projects, such as high-speed rail networks, smart city developments, and renewable energy installations. Steel producers are rushing to lower their carbon footprints at the same time. Production footprints are changing due to hydrogen-based direct reduced iron (DRI) processes, electric-arc furnaces (EAF) driven by expanding scrap sources, and renewable energy integration. The expanding infrastructure, automotive, and construction industries are fuelling the APAC steel market's surge due to the region's fast urbanisation and industrialisation. Decarbonisation is being accelerated by the region's effort for greener steelmaking, which embraces electric-arc furnaces (EAF), hydrogen-based direct reduced iron (DRI), and renewable energy integration. To fulfil demand, investments in supply chains for raw materials are increasing, from the transportation of iron ore in Australia to the procurement of coking coal in India. Cost competitiveness and emissions reductions are further improved by technological advancements in DRI process electrification and EAF efficiency. APAC is positioned to take the lead in low-carbon, energy-efficient steel and sustainable mining worldwide as governments and industry develop green-steel financing frameworks and roadmaps. Operations are also being transformed by digitalisation and automation: IoT sensors and predictive maintenance platforms optimise mill throughput and reduce unexpected downtime, while AI-driven geology and mine-planning tools improve resource recovery. As miners and steel makers establish joint ventures to obtain feedstock, expedite logistics, and protect against commodity price volatility, regional supply-chain integration is becoming more and more integrated. However, the industry continues to confront obstacles like as fluctuations in the price of raw materials, infrastructural shortages in developing nations, and stricter environmental, social, and governance (ESG) laws. The foundation for a more competitive and sustainable APAC mining-steel complex in the next ten years is being laid by governments through carbon-pricing schemes, low-emissions finance frameworks, and incentives for green-steel initiatives. How can this report add value to an organization?Product/Innovation Strategy: The APAC mining steel industry market is segmented based on various applications, production methodology, and end-products, which provides valuable insights. By end-use application segment includes transportation (automotive and other transportation), building, construction, and infrastructure, consumer goods and appliances, industrial equipment and manufacturing, packaging, and others. By production methodology, the market is categorized into a blast furnace-basic oxygen furnace (BF-BOF), direct reduced iron-electric arc furnace (DRI-EAF), and other emerging technologies. Lastly, the end products include carbon steel, alloy steel, stainless steel, high-strength steel, and Strategy: The APAC mining steel industry market has been growing. The market offers enormous opportunities for existing and emerging market players. Some of the strategies covered in this segment are mergers and acquisitions, product launches, partnerships and collaborations, business expansions, and investments. The strategies preferred by companies to maintain and strengthen their market position primarily include product Strategy: The key players in the APAC mining steel industry market analyzed and profiled in the study include professionals with expertise in the mining and steel industry. Additionally, a comprehensive competitive landscape such as partnerships, agreements, and collaborations are expected to aid the reader in understanding the untapped revenue pockets in the market. APAC Mining Steel Industry Market Trends, Drivers and Challenges Trends Green-steel and decarbonization: Rapid uptake of electric-arc furnaces (EAFs) and hydrogen-based direct reduced iron (DRI) to lower CO? emissions. Digitalization & automation: Deployment of AI-driven mine planning, IoT-enabled asset monitoring, and "smart mills" to boost operational efficiency. Regional supply-chain integration: Closer coordination between iron-ore miners and steelmakers - especially in Australia, India, and Southeast Asia - to secure feedstock and stabilize costs. EAF-scrap circularity: Growing scrap collection and recycling networks in urban APAC centers support more flexible, lower-capex EAF steel production. Consolidation & M&A: Larger players acquiring upstream mining assets or downstream rolling mills to capture value across the value chain. Drivers Infrastructure & urbanization: Continued government spending on transport, housing, and utilities in India, ASEAN, and China fuels long-term steel demand. Automotive & white-goods growth: Rising consumer incomes and electrification trends drive higher-quality steel consumption for EVs and appliances. Policy incentives: Carbon-pricing schemes, tax rebates for low-carbon projects, and resource-nation mining royalties shape investment decisions. Cost-efficiency pressures: Volatile coal and iron-ore prices push firms to adopt energy-efficient technologies and vertical integration. Challenges Raw-material volatility: Iron-ore, coking-coal, and natural-gas price swings erode margins and complicate long-term planning. Regulatory & ESG scrutiny: Stricter environmental standards, community-land disputes, and lender ESG policies can delay projects and raise funding costs. Infrastructure bottlenecks: Inadequate rail, port, and power in emerging APAC markets hamper mine-to-mill throughput. Overcapacity risk: China's steel surplus and intermittent export restrictions create pricing uncertainty for regional producers. Skill & safety gaps: Recruiting skilled technicians for automated operations and maintaining safety standards in remote mining sites remain persistent hurdles. Key Market Players and Competition SynopsisThe companies that are profiled in the Asia-Pacific mining steel industry market have been selected based on inputs gathered from primary experts who have analyzed company coverage, product portfolio, and market of the prominent names in this market are: NIPPON STEEL CORPORATION China Ansteel Group Corporation Limited China Jianlong Steel Industriai Co Ltd. Tata Steel JSW JFE Steel Corporation Shandong Lenser materials Co.,LTD. HYUNDAI STEEL Jindal Steel & Power Limited SAIL Key Attributes: Report Attribute Details No. of Pages 129 Forecast Period 2025 - 2035 Estimated Market Value (USD) in 2025 $711.6 Billion Forecasted Market Value (USD) by 2035 $1085.6 Billion Compound Annual Growth Rate 4.3% Regions Covered Asia Pacific Market Dynamics Overview Market Drivers Urbanization and Infrastructure Growth Public-Private Investments in Infrastructure Trends: Current and Future Impact Assessment Automation in Mining and Steel Production Processes Increased Demand from Emerging Markets Market Restraints Volatility in Raw Material Prices Geopolitical and Trade Tensions Market Opportunities Growing Demand for Specialty Steel Products Technological Innovation in Steelmaking Supply Chain Overview Value Chain Analysis Key Iron Ore Producing Nations and Mining Capacity Key Coking Coal Exporting Nations Supply Chain Constraints Impact of Geopolitical Issues on Steel Production Pricing Analysis Market Map (Stakeholder Mapping across Value Chain) Steel Production Scenario Production Capacity Outlook (2024-2034) Regulatory Landscape Stakeholder Analysis Installed Capacity by Production Process (Blast Furnace-BOF and DRI-EAF) Upcoming Projects and Capacity Additions (2025-2035) Ongoing Investments Scrap Recycling Market Overview Emission Reduction Initiatives (Mining Steel Industry Transition) Green-Steel Market Outlook Market Size and Growth Forecast (2024-2034) Impact of Green Steel on Conventional Steel Market Challenges and Enablers for Green-Steel Adoption Market Segmentation End-Use Application Transportation (Automotive and Other Transportation) Building, Construction, and Infrastructure Consumer Goods and Appliances Industrial Equipment and Manufacturing Packaging Others Production Methodology Blast Furnace-Basic Oxygen Furnace (BF-BOF) Direct Reduced Iron - Electric Arc Furnace (DRI-EAF) Other Emerging Technologies End Products Carbon Steel Alloy Steel Stainless Steel High-Strength Steel Others For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Asia-Pacific Mining Steel Industry Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Sign in to access your portfolio
Bloomberg
22-07-2025
- Business
- Bloomberg
Swedish Green Steelmaker Reports Wider Loss as Costs Grow
Stegra AB, which is currently constructing the world's largest green steel plant in northern Sweden, said its operating loss grew last year as it nears the start of production. Construction and personnel costs spiked during 2024, resulting in an operating loss of 2 billion kronor ($209 million), according to the company's latest annual report. That compares with a loss of 657 million kronor a year earlier.
Bloomberg
22-07-2025
- Business
- Bloomberg
Startup Claims Its Green Steel Will Be Cheaper Than Regular Steel
A startup backed by tech billionaires Bill Gates and Vinod Khosla says it has successfully tested a new approach for making steel that minimizes planet-warming emissions without raising costs above traditional steel. Hertha Metals, based in Conroe, Texas, says it now can produce one ton of green steel per day in a pilot facility outside Houston that takes fewer steps and resources than existing methods. While the volume is insignificant, the startup describes the output as a crucial milestone for a technology that's only a few years old.
CNA
14-07-2025
- Politics
- CNA
Australia PM Albanese pledges to cooperate with China on green steel
Australia has called for closer cooperation with China, as Prime Minister Anthony Albanese pledges to work with Beijing on green steel — a metal produced using renewable energy. Mr Albanese is on a three-city official visit to China, with regional security and efforts on growing economic ties high on the agenda. He is set to meet Chinese President Xi Jinping in Beijing tomorrow. Meanwhile, Indian External Affairs Minister S Jaishankar is also in Beijing. This is his first visit to China since ties plummeted in 2020 after a border clash along the Line of Actual Control. Deborah Wong reports from Shenzhen.
