The Australian government has allocated an energy transition grant totaling AUD 63.2 million (USD 41.5 million) for the acquisition and installation of a new furnace at a Liberty steel facility situated in South Australia. This funding is earmarked specifically for the implementation of a low-carbon electric arc furnace, which will serve as a sustainable replacement for the existing blast furnace at the Whyalla Steelworks.
Additionally, Australia’s Bluescope Steel, operating under the ticker BSL.AX, is set to benefit from a separate grant of AUD 136.8 million. This grant will support the upgrade of a blast furnace located at the Port Kembla Steelworks, further enhancing the industry’s transition towards greener manufacturing practices.
Moreover, Liberty has outlined plans to broaden its scope by expanding a magnetite project. This expansion initiative aims to facilitate the production of green iron and steel utilizing hydrogen, aligning with the company’s commitment to environmentally conscious manufacturing processes.
