The global steel industry is under increasing pressure to decarbonize output, and Australia's Hawsons Iron Ltd. has signed to non-binding Letters of Intent (LOIs) for the offtake of up to 58 million tons of high-grade Hawsons Supergrade concentrate annually.
The current list of 18 possible off-takers, mostly focusing on Asia and the Middle East, according to Managing Director Bryan Granzien, comprised 12 steel mill owners and six commodities trading firms.
Due to business considerations, Hawsons is unable to identify all of the parties, thus they combined the identified demand. The remaining 36 million tons per year are made up of LOIs from marketers and the remaining 22 million tons per year are from steel plant operators. According to a press release from the company, steel mill operators include current operations and greenfield DRI steel mills under consideration.
The Hawsons Iron Project is located 60 kilometers (km) southwest of Broken Hill in Australia's New South Wales. The project's prefeasibility study, which was finished in 2017, revealed that it could produce the highest-grade iron product in the world (70 percent Fe), placing it among the top undeveloped high-quality iron ore concentrate and pellet feed projects in the world.
The materials and information on this article have been prepared or assembled by Viet Nam Steel and are intended for informational purposes only