Wedoany.com Report on Feb 26th, Iron ore producer Fortescue is accelerating its green steel production efforts. In an investor briefing on Wednesday, CEO Dino Otranto stated that for the Pilbara region to maintain its competitive edge in the global market, it must support China's steel manufacturing industry in achieving its low-carbon transition.

Otranto revealed during the earnings call that Fortescue's green metal project at the Christmas Creek mine is progressing well, with first production targeted for this year. This will make it the Pilbara's first project to achieve green metal production at scale.

Otranto said, "The steel industry is undergoing a transformation. Demand for lower-emission steel is growing. China is actively seeking partners to help advance this goal. If the Pilbara wants to remain competitive, it needs to work with China to help decarbonize its steel sector."

He added, "This is a significant opportunity for both Australia and China."

Otranto also mentioned that he will visit China again next month to engage further with local steel producers and renewable energy companies, advancing Fortescue's green metals strategy.

The Christmas Creek pilot facility is a key part of Fortescue's envisioned 'mine-to-product' green supply chain for the Pilbara. By integrating green mining equipment with low-carbon ironmaking technology, the company aims to demonstrate the technical feasibility of commercially producing green metals from magnetite and hematite.

Fortescue previously announced plans to supply over 100 million tonnes of green steel metal to China annually, potentially reducing CO2 emissions by more than 200 million tonnes per year. The company believes that re-engineering the entire steel value chain will help Australia foster a new green industry.