The opportunity for Australia and the region offered by green iron is, as one participant put it – “immense”. Progress hinges on bankable projects, demand aggregation and enabling policy frameworks. This chapter highlights top takeaways from the workshop and priority actions to help actors from all sectors seize Australia’s green iron opportunity. Australia has what the world wants. But to lead, we need to stop thinking like a quarry and start acting like a clean industry superpower. Ross Garnaut, Keynote speaker; Founder, The Superpower Institute; Emeritus Professor of Economics, University of Melbourne Australia is in a race with competitors to seize the first-mover advantage Australia’s renewable energy capacity, DR-grade magnetite resources and export infrastructure create a strong base, but rivals in the US and Middle East are moving faster with subsidies and approvals. Getting a commercial green iron project to financial close by late-2027 is an urgent priority to claim a competitive edge in the market. Regional engagement is vital to align export markets on carbon pricing and certification Australia must forge strong partnerships with Europe and East Asia. Korea and Japan – dependent on imports and exposed to CBAM – are ideal offtake anchors, as their EAFs prepare to use DRI. Aligning regional carbon-pricing and green certification – especially in the lead-up to COP31 – are key to driving demand. A systems approach is key to deliver a green iron industry, not siloed projects Transforming Australia’s largest export industry requires a systems approach, with coordinated action by government, industry and finance players to share risk and coordinate across federal and state levels to fast-track approvals, common-use infrastructure and regional engagement. Capital is available – but seeks project confidence, policy clarity and scale Investors are aligned on green iron’s potential and significant capital is available, but it must be matched by confidence in project readiness, regulatory clarity, government backing and – above all – long-term offtake agreements. Projects need designing for scale from the outset to compete globally. Financiers seek large, collaborative ventures underpinned by stable government strategy, not isolated pilot projects. Demand signals and offtake agreements are essential to de-risk investment Governments must decouple industrial growth from emissions by underwriting early-stage risk and providing long-term contracts. Green iron requires secure offtake agreements supported by industry and government. The First Movers Coalition and RMI’s Sustainable Steel Buyers Platform provide critical demand signals. Swift approvals and shared infrastructure are essential enablers Slow, fragmented approval processes undermine investor confidence. Single-window sign-offs and an “overriding public interest test” are needed to accelerate project timelines. Public-private collaboration on green hubs and industrial clusters is vital to scale up shared infrastructure spanning energy, water, ports, transport and workforces. Trust, transparency and tangible benefits must underpin community engagement Transparency, inclusion and tangible benefits are important factors when engaging with local communities and First Nations. Genuine partnerships, consistent communication and strong commitments to local hiring and training are critical to earning lasting social licence.5.1 Key takeaways from industry stakeholders Unlocking Asia-Pacific as a First Mover: Australia’s Green Iron Opportunity 46

Unlocking Asia-Pacific as a First Mover 2025