High-purity iron ore: a key asset for decarbonization

Including high-purity iron on Québec's list of critical and strategic minerals in early 2024 was a pivotal development for the industry and Canada’s emerging role in global decarbonization efforts.

Iron is essential in steel production, which is vital for building the infrastructures and technologies needed for the energy transition, from wind turbines to electric vehicles.

Yet, steel manufacturing is among the most carbon-intensive industries, generating approximately 2.01 tonnes of CO₂ for every tonne of steel produced. In response, more companies committed to global decarbonization are looking to source steel with a lower carbon footprint.

This is where high-purity iron ore from the Labrador Trough becomes a game-changer:

1 – It reduces industry-wide emissions: “The high purity of this iron ore supports the transition to greener steelmaking methods, such as direct reduction furnaces and electric arc furnaces, significantly reducing GHG emissions,” explains Catherine Pelletier, Senior Mining and Metals Engineer at BBA.

2 – It enables more scrap recycling: High-purity iron concentrate allows for greater use of scrap metal contaminated with impurities. By diluting these impurities, it helps maintain the quality of the end product.

3 – Political stability and favourable environmental standards: This high-purity iron ore is also found in a geopolitically stable country. The current regulatory framework upholds stringent environmental standards, further increasing its appeal.

“Positioning Québec as a world leader will require a great deal of effort, but there’s a strong commitment among industry stakeholders who are working together to develop advanced expertise and cutting‑edge technologies to drive the growth of the green steel sector,” adds Isabelle Leblanc, Vice-President, Mining and Metals at BBA.