Thanks so much to everyone who joined us for ‘Green Steel and the Future Risk of Metallurgical Coal’ event. For those of you who weren’t able to make it we have included a link to the presentation below.
Big coal companies claim there are no viable alternatives to coal for steel production, but we fact-checked this claim with global steel sector experts!
We heard on the night about how the world is shifting away from the use of coal in steel making. The technology to make ‘green steel’ is not new - it’s decades old technology that is being increasingly utilised. And most exciting is the shift to using recycled scrap steel. 70% of steel made in the United States is recycled and its use is growing in other countries, including China.
In this context we need to ensure that as many government decision makers as possible understand the risks to Queensland if we continue to push ahead with opening up new or expanded metallurgical coal mines. This includes the risk of increased methane pollution, which is the potent greenhouse gas released during the mining process. Metallurgical coal mines are often more methane intensive than thermal coal mines.
Details on the speaker:
Simon Nicholas is Lead Analyst for the global steel sector for the Institute of Energy Economics and Financial Analysis. Before joining IEEFA in 2016, Simon had 16 years’ experience in the finance industry at ABN Amro, Macquarie Group and Commonwealth Bank of Australia in Sydney and London.