Today marks the moment Australia’s mining, manufacturing and renewable energy industry entered the global race towards decarbonisation.

The Smart Energy Council strongly welcomes the Australian Government’s $1 billion Green Iron Investment Fund and the investment in the nationally important Whyalla Steelworks.

As a global leader in the export of iron ore, Smart Energy Council Chief Executive John Grimes says, Australia has everything to gain and lose.

“A Green Iron Investment Fund is exactly what Australia needs to lay the foundations for Australia becoming a Renewable Energy Superpower.”  

“Global markets are demanding green iron and green metals, but that’s not what we’re producing,” he said.

“Iron ore exports underpin our economic prosperity, yet we’re stuck in an antiquated dig and ship model of doing business.”

“Not only are our trading partners telling us that they want decarbonised product, they’re looking elsewhere to source it.”

Investing in green iron and metals will also secure Australia’s sovereign steel market, Zero Carbon Hydrogen Australia’s Executive General Manager Joanna Kay says.

“Australia has two steelworks, Whyalla and Port Kembla, each are absolutely critical to Australia maintaining a sovereign steel market, and continuing to build with Australian made product.”

“Alongside value adding to our ore exports by first refining onshore, domestically we can and must be part of the global green industrialisation.”

“South Australia is uniquely positioned to be front and centre to deal with the growing demand for green metals here and around the world, through its large ore reserves, steel making expertise and world leading build out of renewable energy.”

Nation building initiatives like this takes guts, Mr Grimes says, “we congratulate both Premier Peter Malinauskas and Prime Minister Anthony Albanese for stepping up.” 

The Smart Energy Council urges the Federal Government to complete the steps needed to make Australia a renewable energy and critical minerals superpower, by implementing Production Tax Credits for green iron and green metals in the next term of government. 

This will complement Production Tax Credits for green hydrogen and critical minerals already being delivered by the Albanese Government, and help secure a future made in Australia.

Media contact: tim@smartenergy.org.au – 0448 972 192