Tempest Minerals signed a Memorandum of Understanding (MOU) with Green Steel and Iron Pty Ltd) in a groundbreaking move toward sustainable steel production.
This partnership aims to explore opportunities for collaboration in the development of Western Australia’s green steel industry, with a particular focus on leveraging Tempest’s high-grade Remorse magnetite deposit.
With plans for a $3 billion hot briquetted iron (HBI) processing hub adjacent to Tempest’s Yalgoo Project and the development of an Electric Arc Furnace in Collie, Green Steel and Iron is positioning itself at the forefront of Australia’s green steel revolution.
Watch the Official Announcement Summary Below:
A Game-Changer for Western Australia’s Steel Industry
Green Steel and Iron’s vision is to establish a sustainable iron reduction and steel manufacturing industry in Western Australia. The company is currently developing a Direct Reduced Iron (DRI) plant in the Yalgoo Region, set to produce green steel from local iron ore sources.
Initially powered by a mix of natural gas and green hydrogen, the plant has the potential to increase its hydrogen usage over time based on various economic considerations.
The iron produced will be converted into briquettes and exported to global markets, including Europe and Thailand, through agreements with Meranti Green Steel. Green Steel and Iron has also partnered with Danieli, a world leader in steel technology, to deploy cutting-edge solutions for green steel production.
The Role of Tempest Minerals and the Remorse Deposit
Tempest Minerals, an innovative mineral exploration company, owns the Remorse magnetite deposit, located within its Yalgoo Project in Western Australia. Recent drilling results indicate high-grade iron mineralisation with grades up to 39% iron, making it a strong candidate for green steel production.
The company is set to conduct further drilling and metallurgical testing in early 2025, aiming to confirm the deposit’s potential as a sustainable iron ore source. The MOU with Green Steel and Iron aligns perfectly with Tempest’s goal of securing local off-takers for its iron ore while contributing to the global shift toward eco-friendly industrial practices.
Key Objectives of the MOU
- Optimising both companies’ projects to maximise efficiency and sustainability
- Developing infrastructure plans for iron ore processing, including a potential pelletising and DRI plant
- Identifying local and international off-takers for the high-grade magnetite produced at Remorse
- Exploring funding opportunities to advance both Tempest’s mining projects and Green Steel and Iron’s processing facilities
- Conducting production and metallurgical studies, along with further exploration drilling
Why Green Steel Matters
Traditional steel production is responsible for nearly 8% of global carbon emissions, making the transition to green steel a global priority. Replacing coal with hydrogen-based reduction processes allows companies like Green Steel and Iron to significantly lower emissions while maintaining high-quality steel output.
WA, with its vast renewable energy resources, is uniquely positioned to become a leader in sustainable iron and steel production. Through this partnership, Tempest Minerals and Green Steel and Iron are helping to establish a low-carbon supply chain, ensuring Australia remains competitive in the global green steel market.
What’s Next?
With the MOU in place, both companies are set to move forward with:
- Infrastructure and feasibility studies for a green steel supply chain
- Further exploration and drilling at the Remorse magnetite deposit
- Potential agreements with steel manufacturers and off-takers to secure future demand
Conclusion
Tempest Minerals’ partnership with Green Steel and Iron is a major step toward building a sustainable, low-carbon steel industry in Western Australia. Combining high-grade magnetite resources with cutting-edge green steel technologies will transform the region into a hub for environmentally responsible steel production.
Stay tuned for updates as this partnership progresses. Contact Tempest Minerals for more information, or visit the official announcement below.
Tempest Minerals Official Announcement
