Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

ArcelorMittal in partnership with the Government of Canada intends to invest C$1.77bn ($1.41bn) in installing new direct reduced iron (DRI) and electric arc furnace (EAF) facilities at its Dofasco plant to reduce carbon emissions by 60pc. 


The new DRI facility will have a capacity of 2mn mt while the EAF will produce 2.4mn mt of steel through its existing secondary facilities, ArcelorMittal noted in a statement on Friday. Production is expected to begin before the end of 2028. The global steel conglomerate will also make adjustments to the existing EAF facility and casters, which will support new productivity, quality and energy capabilities. 


This project is expected to aid the company’s transition from blast-furnace steelmaking to DRI-EAF production and reduce the plant’s annual carbon emissions by 3mn mt over the next seven years. It will employ an estimated 2,500 people during the engineering and construction stages. 


The Canadian government will invest C$400mn in the project. 


ArcelorMittal plans to reduce its global carbon emissions by 25pc by 2030 and achieve net-zero by 2050. 


Leave a Reply

Your email address will not be published.