Australia could miss its multibillion-dollar opportunity to lead the global green iron market if it fails to secure deals with neighbouring countries and build demand for the low-emission export.
But policies encouraging the use of green steel in electric vehicles, wind farms and data centres could help to save its potential, a study has found.
WWF Australia issued the warning in a report on Thursday, which found Australia had eight green iron projects in the pipeline but none that had secured a final investment decision.
The finding comes after The Superpower Institute estimated Australia could more than triple its iron export revenue in 2060 by moving to green iron, and after the federal government launched a $1 billion Green Iron Investment Fund.
