Prime minister attends Steel Decarbonised Roundtable overseas

The prime minister has reaffirmed Australia and China’s iron ore and steel sector partnership that has been contributing for decades during a new phase of collaboration.

 

“Trade remains a central pillar of our bilateral trading relationship, supporting jobs, investment and prosperity in both countries,” said Albanese.

 

The Australian Government will be supporting the industry in their efforts of driving developments to decarbonise the sector.

 

Australian miners remain reliable and stable suppliers for the iron ore imports of China, supplying nearly a 60 per cent. The iron ore goes into Chinese steel production which represents more than 50 per cent of global supply.

The steelmaking value chains are responsible for 7 to 9 per cent of global emissions, highlighting opportunities for both Australia and China to further align long-term economic interests.

 

The prime minister suggested the need to enable policy environment, extensive investments in research to develop new technologies and collaboration across academia, industry and government.

 

“Steel decarbonisation presents a range of challenges. What we need are enabling policy environments, extensive investments in research to develop new technologies and collaboration across academia, industry and government,” said Albanese.

The Australian government has acknowledged the work to develop technologies and policies that are ongoing in Australia and China, with some showing promising results.

 

The prime minister has highlighted initiatives, including Fortescue’s hydrogen-based green iron pilot as its green energy hub at Christmas Creek in the Pilbara, and Hancock’s collaborative development of low-carbon processing technologies suitable for Pilbara ores.