Geraldton to be a key player in ‘$400b green iron export industry’ according to new research

Fresh research has indicated Geraldton will be a key player in creating what the report author is calling a “$400 billion green iron export industry”.

The research from The Superpower Institute indicated through government policy, green iron could compete with fossil fuel-based iron ore production in Australia.

According to the research, WA’s abundant iron ore and low-cost renewable energy created a comparative advantage for the nation.

The research indicated five locations across the nation to be key for green iron production, including Geraldton, Kwinana, and the Pilbara.

The research suggested Geraldton was a strong contender due to its renewable capacity and access to iron ore.

The Superpower Institute chair Rod Sims said Geraldton would be relied on for green iron.

“With its vast iron ore reserves and key industrial regions like Geraldton and Kwinana, Western Australia will be central to our green export future,” he said.

“As the world decarbonises, our fossil fuel exports will inevitably decline.

“But by using our unparalleled renewable energy resources to make green iron, we can replace those exports with high value, zero carbon products that the world will need.”

The research suggested green iron could replace iron ore, and could generate $386b per annum by 2060.

It also suggested green iron could provide a way to safeguard the economy as the nation heads towards net-zero goals.

Oakajee, north of Geraldton, has long been touted as a renewable port, with at least $60 million put towards activating the area, including the access road intersection which was set to be completed later this year.