Nippon Steel is reportedly evaluating the development of a green steel project, with investments around $733 million. Brazil and Australia are among the possible locations for the new plant, due to the local availability of high quality iron ore.
Takahiro Mori, the company’s VP for global operations, was quoted by the press in Brazil as saying that he is comparing different projects to check if there is one that could meet conditions for the production of “environmentally friendly” steel.
To meet the targets of carbon neutrality until 2050, Nippon Steel plans to increase the use of hydrogen in its existing blast furnaces, while building direct reduction plants 100 percent based on hydrogen.