A view of the blast furnace of an old steel refinery in Landschaftspark Duisburg-Nord, Duisburg, Germany.
Photo by Aranka Sinnema on Unsplash.
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A recent announcement by Europe’s largest iron ore producer, LKAB, may seem like a technical detail only relevant for metallurgists and steel nerds.
However, the company’s plan to invest up to $46 billion over the next 15–20 years to expand into an emissions-free iron process being piloted in Northern Sweden is big news for Sweden, the global steel industry and future generations around the world.
From a climate change perspective, steelmaking is considered one of the hard-to-abate sectors. Given that the industry contributes directly to 7 percent of all global greenhouse gas emissions, it is impossible to ignore it. But in contrast to other areas of our society such as automobiles or power generation technical solutions to replace conventional methods have seemed either quite expensive or simply unknown.
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