UNEARTHING TRENDS
Exploring the emerging technologies helping to improve the sustainability of steel By Alex Morrison
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merging from tariffs set by the US government in 2019, Canadian steelmakers are experiencing strong market conditions from growing global demand. Whether driven by oil drilling, infrastructure or government investments, the International Energy Agency forecasts production will grow by 30% by 2050. But as demand for steel grows, so does the call for low-carbon supplies. At the recent COP26 environmental summit, Canada signed on to the Industrial Deep Decarbonization Initiative, requiring green factors to be considered for the purchase of materials. This is pushing many companies – such as automakers who use about 12% of the world’s steel – to accelerate decarbonization initiatives and seek cleaner inputs in an effort to reduce Scope 3 emissions. The challenge is that steel is one of the world’s most energy-intensive industries, accounting for an estimated 9% of global carbon emissions. The good news is Canadian steelmakers are among the greenest compared to their global industry peers, and are expected to see continuous improvement as they strive towards 2050 net zero goals set by the Canadian Steel Producers Association.
The good news is Canadian steelmakers are among the greenest compared to their global industry peers, and they are expected to see continuous improvement as they strive towards 2050 net zero goals
The industry is already seeing great progress. Algoma Steel announced a $703-million plan to go electric by converting its blast furnace to an electric arc furnace (EAF) – with support from the federal government. The Government of Canada will also be investing $400 million in ArcelorMittal Dofasco, which is pursuing a . billion project to phase out coal-fired steelmaking at its facilities. These two projects combined will look to remove up to six million tonnes of carbon a year. CONTINUED ON PAGE 10
Compare emerging and new technology for greener steel. CREDIT: EY CANADA
APRIL 2022
CANADIAN MINING JOURNAL | 9
