Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Australia’s Heavy Industry Low Carbon Transition Cooperative Research Centre (HILT CRC) intends to develop the country’s export market for certified low carbon steel products in a bid to become a net-zero carbon emissions country by 2050. 


The non-profit entity has significant funding from the government and plans to develop technology to decarbonize the country’s heavy industry sector with the help of clean energy resources, especially since Australia is considered the world’s largest iron ore exporter with a steel industry that is responsible for 7-10pc of greenhouse gas emission globally. 


In an effort to accomplish this objective, Australia’s Mitsubishi Heavy Industries (MHI) and its subsidiary Primetals Technology have joined hands with HILT CRC by contributing financially for the next 10 years and leveraging their iron and steel making experience. 


Moreover, Primetals will deploy its new HYFOR technology (hydrogen-based fine ore reduction technology) for the research and development of hydrogen-based direct reduced iron (DRI). 


MHI’s managing director, Shigeru Nakabayashi stated that the company is on the track to achieve gas turbines powered by 100pc hydrogen and ammonia by 2025 and will be a step closer to the company’s aim of achieving carbon neutrality. He added that the firm looks forward to contributing towards HILT CRC’s goals of making Australia’s heavy industry a carbon-neutral sector. 

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