GSWA and MGS Partnership Announcement

Dec 5, 2023

Perth Australia/ Singapore – 5 December, 2023

Meranti Green Steel Pte. Ltd. (MGS), based in Singapore, makes a further step towards becoming one of Southeast Asia’s future leaders in green steel. Building upon its plans to set up green steel production in Thailand, MGS now announces a cooperation with Green Steel of WA (GSWA) to jointly develop a pelletizing, direct reduction, and green HBI operation in West Australia. In anticipation of a Joint Venture, MGS and GSWA are working together on the pre-engineering, site selection, and infrastructure preparation for the production of high-grade iron ore pellets, direct reduction of the pellets, and briquetting of the reduced iron for export including into MGS’ new green steel plant in Thailand.

Dr. Sebastian Langendorf, CEO of MGS stated, “We are extremely excited about our cooperation with GSWA which completes our strategy and puts MGS on track to have one of the most competitive green steel business models in the world. Leveraging on Western Australia’s ideal conditions for green iron making, including the availability of relevant ore, competitive natural gas, world-class renewable energy conditions for the production of green hydrogen, and required infrastructure, GSWA’s and our shared goal is to develop a leading green HBI hub for the region. With our presence in Southeast Asia and GSWA’s strong green steel and ironmaking capability in Western Australia, both linked by Danieli’s green steel and ironmaking technologies, the cooperation between MGS and GSWA is perfectly complementary. We see a strong strategic and cultural fit with the team of GSWA, with interests fully aligned, and our shared passion for sustainable iron and steel making”.

GSWA will contribute local expertise and presence, as well as its initial planning and relationships, while MGS will contribute a team of iron and steel making experts and channels into Southeast Asia’s fast growing steel markets.

According to Bob Cowan, Director of GSWA, “The partnership with MGS allows GSWA to harness Western Australia’s rich resourcers in renewable energy, gas, and iron ore to establish a local green iron making industry which can feed into rapidly growing decarbonised steel markets of South East Asia being pioneered by MGS. It represents a real win-win partnership as both of our companies’ agility, unburdened by legacy, means we can take decisions which accelerate the decarbonisation of the steel industry without having to protect legacy investments and assets.”

The cooperation with GSWA will support MGS’ plans for green steel making in Thailand. Due to favorable iron making conditions in Western Australia, MGS will develop its green steel business in Thailand in two steps, with an EAF and Hot Strip Mill in phase 1, and a direct reduction plant in a later phase 2, once green hydrogen conditions are ready. MGS’ existing partnerships will ensure the successful execution of the integrated business model.

MGS is also in early discussions with potential partners in Indonesia for the set-up of a green steel business, which will be supported by green HBI from Western Australia in the future. Dr. Langendorf continued “Like Thailand, Indonesia offers tremendous green steel opportunities. But we also know that we have to take one step at a time. It’s Thailand and Western Australia first, followed by the expansion of our green steel business into Indonesia and potentially other South-East Asian green steel markets.”

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About Green Steel of WA (GSWA)

Green Steel of WA is a 100% Western Australian company whose goal is to create a sustainable steel manufacturing industry for Western Australia, through innovative partnerships with mining companies, technology partners, steel producers and steel customers using proven carbon reducing steel making, renewable energy and carbon sequestration technologies that are deployable today.

About Meranti Green Steel (MGS)

Meranti Green Steel, with its HQ in Singapore, has a strong commitment to sustainability. It is focused on becoming a Southeast Asian leader in decarbonizing the iron and steel industry. Meranti Green Steel sees strong partnerships as critical to its success and it aims to provide high-quality steel products and offer industry-leading delivery and service. Meranti Green Steel’s No. 1 priority is safety, both for its team members and the communities it operates in.