Albanese Government’s $200m investment puts Australia on path to becoming global green steel powerhouse

The Albanese Government’s $200 million grant to upgrade Australia’s steel industry is a crucial early step to realising Australia’s potential as a global green steel powerhouse, according to the Australian Workers’ Union.

The federal government has announced the first round of the Powering the Regions Fund (PRF) will provide funding to BlueScope Steel Limited and Liberty Steel Australia.

Bluescope will use $136.8 million to upgrade of its No. 6 Blast Furnace at the Port Kembla Steelworks.

LIBERTY has also been awarded $63.2 million towards the purchase and commission of a low carbon electric arc furnace to replace its blast furnace at the Whyalla Steelworks.

“The AWU has long argued that Australia is ideally placed to become a global green steel powerhouse of the 21st century, but to realise that exciting future we need strategic investment today. Thankfully that’s what we’re finally seeing through the government’s Powering the Regions Fund,” said AWU National Secretary Paul Farrow.

“The decision to fund projects at BlueScope Steel Limited and Liberty Steel Australia is a testament to our nation’s readiness to embrace a clean steel future.

“This transition is more than just an environmental imperative; it’s an economic opportunity for Australia to become a leader in clean steel in Asia and globally.

“The projects at BlueScope and LIBERTY will not only reduce emissions but also create hundreds of jobs, ensuring a vibrant future for the steel industry in our regions.

“We tend to hear a lot of doom and gloom about manufacturing in Australia, but the fact is the future looks extremely bright if we seize our opportunities.

“This investment demonstrates the will of the government to help drive Australia’s growth into a clean steel future.”