UK-based steelmaker Liberty Steel Group has announced that it has signed a memorandum of understanding with United Arab Emirates-based AD Ports Group to develop solutions for importing high-quality magnetite ore, an ideal feedstock for green iron and steel production, to the UAE from Australia.
The companies plan to build a green iron production facility in the Khalifa Economic Zones Abu Dhabi (KEZAD) and related port infrastructure and a conveyor system in Khalifa Port, contributing to the UAE’s ambitions to grow its manufacturing base by 2031.
Together with Liberty’s access to four billion mt of South Australia’s premium grade magnetite ore with the UAE’s huge renewable energy potential and the advanced infrastructure and connectivity offered by AD Ports Group, the agreement has the potential to play a significant role in decarbonizing international iron and steel production.