Australia is stepping into the global green iron spotlight with the launch of the Australian Green Iron Tracker, an interactive resource developed by IEEFA Asia Pacific. The Tracker monitors the country’s progress in low-emissions ironmaking, covering the entire value chain from iron ore mining to final iron production.
The platform consolidates detailed, referenced data on 83 magnetite deposits and 26 operating or proposed projects across various stages of the ironmaking sector. It highlights innovations in direct reduction (DR) technologies and provides comprehensive information on deposit characteristics, ore quality, and ongoing project developments. By visualising the pace of progress, the Tracker offers policymakers, investors, and researchers a clear view of Australia’s position in the emerging green iron market.
Why Australia Must Act Fast
Australia is poised to play a leading role in the global green iron transition, both as a supplier of high-quality feedstock and as a producer of low-emission iron. Yet, despite its position as the world’s largest iron ore exporter, the nation is falling behind competitors. Countries like Brazil and Canada are already advancing pathways to supply high-grade ores for low-emissions steel production. Meanwhile, the Middle East and North Africa are expanding direct reduced iron (DRI) capacity with flexible technologies capable of producing green iron. Globally, more than 114 DR shaft furnaces operate with a combined capacity exceeding 110 million tonnes per year—but Australia has none.
Iron ore mining is a major pillar of the Australian economy. To secure a competitive edge in the future of ironmaking, the country must accelerate investment and technology adoption. The Tracker illuminates critical gaps, identifies growth opportunities, and underscores the urgency for Australia to enhance feedstock supply for conventional DRI production.
Spotlight on Magnetite: Opportunity and Challenge
Magnetite resources are central to Australia’s green iron ambitions. The nation holds an estimated 66 billion tonnes of magnetite ore, with the top 10 deposits accounting for over half of this total. Yet, seven of these major deposits remain undeveloped. Not all magnetite is suitable for DRI feedstock—key factors include ore quality, deposit size, mining costs, proximity to infrastructure, and amenability to beneficiation.
The Tracker provides vital insights into which deposits can realistically supply DR-grade feedstock. A handful of projects, including Magnetite Mines’ Razorback & Iron Peak, Hawsons Iron, and the Central Eyre Iron Project (CEIP), are gaining traction thanks to high-grade resources and favorable locations. Despite this, overall progress remains slow, with few final investment decisions made in either magnetite mining or low-emission iron production.
Pilot-scale projects led by innovative technologies are underway, but Australia must now transition to commercial-scale operations to keep pace with international competitors. Developing technologies that make Pilbara ores suitable for low-emission ironmaking will be critical, not only for national ambitions but for the broader global decarbonisation of steel.
Supporting the Global Green Iron Transition
The Australian Green Iron Tracker is more than a data repository; it is a strategic tool for shaping the future of low-emission steel. It supports researchers, investors, and policymakers by cataloguing every stage of the ironmaking process—from ore concentrate and pellet production to project milestones such as final investment decisions and construction phases.
By offering a clear overview of Australia’s capabilities, challenges, and opportunities, the Tracker serves as a roadmap for accelerating the nation’s transition to green iron. In a rapidly evolving global market, timely action could position Australia as a key leader in supplying high-quality, low-emission iron to the world.