Submission: Unlocking green metals opportunities for a Future Made in Australia

12 July 2024

To: Department of Industry, Science and Resources
RE: Unlocking green metals opportunities for a Future Made in Australia

Thank you for the opportunity for the Institute for Energy Economics and Financial Analysis (IEEFA) to provide input on the Unlocking green metals opportunities for a Future Made in Australia consultation paper. IEEFA is an energy finance think tank that examines issues related to energy markets, trends, and policies. The Institute’s mission is to accelerate the transition to a diverse, sustainable and profitable energy economy.

IEEFA has provided insights into developing green iron and steel in Australia, highlighting the nation’s competitive advantages and its potential to be a major player in the green iron and steel transition.

Australia possesses all the essential ingredients to become a global leader in iron and steel production, including the largest iron ore reserves, and one of the best renewable energy sources in the world.

While Australia has the fundamental resources for a green iron transition, swift and decisive action is needed to stay ahead of competitors vying for a larger share of the emerging green iron and steel market.

IEEFA’s responses to some of the questions are presented over the following pages.

Regards,

Soroush Basirat, Energy Finance Analyst, Global Steel

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