Liberty Steel, a global steel producer, signed a memorandum of understanding with Abu Dhabi Ports Group to develop solutions to import high-quality magnetite iron ore from Australia to the United Arab Emirates.

The agreement would play an important role in decarbonising international iron and steel production by combining Liberty’s access to 4 billion tonnes of high-grade magnetite ore in South Australia – an ideal feedstock for green iron and steel production – with the nation’s huge renewable energy potential. The United Arab Emirates and the advanced infrastructure and connectivity provided by the Abu Dhabi Ports Group. Khalifa Port enjoys an advanced ranking among the most efficient container ports in the world, according to the recently published Container Port Performance Index (CPPI), which was developed by the World Bank and the financial services and classification company Standard & Poor’s.

Under the MoU, the two companies will explore plans to potentially host a green steel production facility at Khalifa Economic Zones (KIZAD) in Abu Dhabi, and the associated port infrastructure and transportation system at Khalifa Port. This would contribute to achieving the UAE’s ambitions to develop its manufacturing base by 2031.