The Government of Ontario plans to invest approximately C$500 million ($394M U.S.) in decarbonization technologies that will be installed at the ArcelorMittal Dofasco plant in Hamilton.
The firm will install a Direct Reduced Iron (DRI) – Electric Arc Furnace (EAF) at the plant by 2028 that will reduce annual CO2 emissions by approximately 3 million tons, which is approximately 60% of annual emissions at the operations. The new manufacturing processes will deliver other positive environmental impacts, like eliminating emissions and flaring from coke- and iron-making operations.
The DRI facility will have a capacity of 2.5 million tons and an EAF facility will be capable of producing 2.4 million tons of steel.
Vic Fedeli, Minster of Economic Development Job Creation and Trade said, “From day one, our government’s plan has been to unleash Ontario’s economic potential by reducing the cost of doing business in Ontario by nearly $7 billion a year. This once-in-a-generation investment to transform the province into a world-leading producer of green steel is a major step forward as we strive for a full economic recovery and transform our auto supply chains to build the car of the future – right here in Ontario.”
ArcelorMittal North America CEO John Brett said, “Reducing our CO2 emissions intensity worldwide by 25% by 2030 is an ambitious target for a steel and mining company; but we believe it is achievable and that it is our responsibility to invent or innovate the processes and technologies that will enable us to reach that goal. As part of that, we understand that in the coming years, the assets used to make steel will undergo a transformation on a scale not seen for many decades.”
