Unlocking Asia-Pacific as a First Mover 2025

The Government of South Australia has made green iron a top priority, publishing its Green iron and steel strategy in June 2024.47 In February 2025, it announced a AU$2.4 billion package, co-funded with the Australian Government, to support Whyalla Steelworks, which would be a critical player in future green steel manufacturing. This complements an earlier investment, announced in 2023 by the state and federal governments to provide AU$100 million of funding for Port Bonthyon Hydrogen Hub, near Whyalla, to develop export-scale green hydrogen and ammonia production.48 SA’s electricity mix is currently 74% renewables and the government is targeting 100% by 2027.49 The state has also created a streamlined legislative framework for accelerating the development of solar and wind power, hydrogen production and green industries. Its “one window to government” model enables rapid approvals from renewables through to green iron production and export.50 “South Australia is green iron-ready now, with sensible policies,” said one participant.In September 2025, the Government of Western Australia introduced a State Development Bill that would streamline permissions for renewable energy and green iron production, given the delays to the rollout of the Pilbara Energy Transition Plan’s shared-used transmission infrastructure.51 As part of its 2024-25 budget, the government announced AU$500 million of investment in the state’s strategic industrial areas (SIAs) to “pave the way for WA to become a global clean energy powerhouse”.52 In Queensland, the state government announced in February 2025 that it would not commit the planned-for AU$1 billion of funding to support the Central Queensland Hydrogen Project, which had been expected to start operations from 2029 and export green hydrogen and ammonia from Gladstone port to Singapore and Japan.53State-level policies and leadership We must … ensure that Western Australia is ready to seize the big opportunities in front of us […] to support our major trading partners to decarbonise by producing critical minerals and clean downstream products like green iron. Roger Cook, Premier and Minister for State and Industry Development, Western Australia Unlocking Asia-Pacific as a First Mover: Australia’s Green Iron Opportunity 19