Unlocking Asia-Pacific as a First Mover 2025

The biggest hurdles to scaling-up green iron-making in Australia (% workshop participants)FIGURE 4 Notes: Survey of Adelaide workshop participants, August 2025. Indicative data only (n = 71).Cost of gr een hydrogen pr oduction and storage infrastructur eLack of pr oven commer cial technology for low- emissions Pilbara- grade or e processingDelivery of gr een electricity at sufficient rates and competitive price pointAbsence of a str ong commer cial signal, e.g. carbon price or green pr emiumAccess to adequate low-cost finance 3%15%34% 11%35% Other1%Affordable green power and a strong demand signal are the top barriers Making the numbers work in terms of commercial viability is probably the greatest of all barriers to decarbonizing the iron and steel sector in Australia. The top-four barriers in Figure 4 above all relate to the cost of inputs, such as green electricity and hydrogen, and the cost of finance related to the high green premium and weak demand signal. There are many moving parts, both on the demand and supply sides. This section addresses some of the finance levers – both public and private-sector – needed to boost demand and make green iron and fuels investable. These include: –Market-based offtake and demand aggregation –Clean commodity trading instruments, credits and production tax incentives –Government-backed concessional finance and guarantees –Philanthropy and first-loss capital These levers need to be deployed simultaneously – by government, corporates, financiers and philanthropies – to give Australia’s green iron industry a chance of displacing long-established, fossil-powered incumbents.4.2 Finance enablers Demand-side clarity is everything right now. If we want capital to flow and projects to move, we need stronger demand signals — through government procurement, buyer platforms, and trade partnerships. Without that, we’re flying blind. Workshop participant, synthesis discussion Unlocking Asia-Pacific as a First Mover: Australia’s Green Iron Opportunity 29