Key raw materials like coking coal and iron ore may not be a viable option for domestic Indian steel production in the future based on environmental sustainable goals (ESG), minister of steel Jyotirditra Scindia said in a statement on Wednesday, December 21.
Commenting on India’s steel production target of 300 million mt by 2030, the minister said, “As the second largest steel producer at present, we must also become responsible producers of steel in the world. There will come a time in the near future when today’s raw materials be it iron ore or coking coal will not be a viable option, not necessarily from a cost structure, but on ESG parameters.”
“The industry can look for options like the use of renewable energy that can cut CO2 emissions, pelletization. In India, every one percent increase in Fe (iron) content results in one percent lower consumption of coke in the process, and the less coke you consume, the less CO2 emissions occur,” he said.