Liberty Steel has signed a Memorandum of Understanding (MoU) with Abu Dhabi Ports Group (AD Ports) to develop solutions for importing high-quality magnetite ore from Australia to the United Arab Emirates, Kallanish notes.

Under the agreement, the two companies will explore possibilities to host a green iron production facility in the Khalifa Economic Zones Abu Dhabi (KEZAD) and related port infrastructure and conveyor systems in Khalifa Port. "The MoU is part of Liberty’s early stage concept development to convert its magnetite ore into high-quality green iron in the UAE using gas and transitioning to green hydrogen once it becomes available at scale by 2031 and 2050," says Liberty in a statement seen by Kallanish.

Liberty's access to 4 billion tonnes of South Australia's premium grade magnetite ore, combined with the UAE’s extensive renewable energy potential and the advanced infrastructure and connectivity offered by AD Ports Group, will play a role in decarbonising international iron and steel production. Liberty plans to distribute green iron to export destinations, including its European and UK facilities. "Demand for green iron and steel is forecast to reach over $400 billion by 2030, presenting a significant market opportunity for the UAE and delivering real action to decarbonise supply chains," it observes.

GFG Alliance executive chairman Sanjeev Gupta commented on the occasion, “We are delighted to partner with AD Ports Group in pursuit of our common goal to decarbonise the global iron and steel supply chain. Liberty’s major Australian magnetite reserves can drive the international development of green iron and steel hubs, enabling large-scale adoption of green hydrogen in global steel production. LIBERTY is committed to becoming carbon neutral by 2030, and the UAE’s huge renewable energy and hydrogen potential, combined with AP Ports' infrastructure advantages, can make it an ideal partner in our vision for green iron production here in the UAE. There is no solution to reach net zero without addressing the largest industrial emitter of CO₂.”

“AD Ports Groups’ collaboration with LIBERTY Steel aligns with the objectives of UAE’s visionary leadership for both economic diversification and a greener future. Under the UAE’s Net Zero 2050 Strategy and Operation 300bn industrial strategy, this agreement has the potential for major strides in decarbonising the iron and steel production industry. It accelerates the transition to Net Zero for the next generation,” said AD Ports -ports cluster chief executive Saif Al Mazrouei.