Salzgitter & Baffinland Sign MoU for Low Carbon Green Steel SALCOS

Canadian miner Baffinland Iron Mines & German steelmaker Salzgitter’s subsidiary Salzgitter Flachstahl are strengthening their cooperation by signing a Memorandum of Understanding to investigate the use of Nunavut high-grade iron ore in low carbon steel production. Baffinland & Salzgitter Flachstahl will consider which supply strategies regarding using iron ore produced by Baffinland are best suited to hydrogen-based steel production in a direct reduction plant. In addition, the companies will work together on optimizing the Scope 3 emissions of their shared value chains.Low carbon green steel forms the basis of the transition to clean sources of energy and is necessary for virtually every aspect of global decarbonization. Having high-grade iron ore is a prerequisite for producing green steel. Baffinland iron ore has superior chemistry combined with first-rate metallurgical properties. Baffinland’s operation is different than many others in that the iron ore is crushed and screened on site, and then shipped directly to markets as no concentrating or processing is needed, and as a result no tailings are produced. Starting in 2025, the Salzgitter Group will begin incrementally switching its steel production to hydrogen-based processes under its SALCOS® - Salzgitter Low CO2 Steelmaking transformation program. The aim is to achieve virtually carbon-free production by 2033.

Salzgitter & Baffinland Sign MoU for Low Carbon Green Steel SALCOS

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