FERREXPO way in addressing Scope 2 , so it is targeting solar and wind as possible solutions . It is already trialling a 5MW solar plant , and so far North is happy with the performance . “ We want to run it for a period of time to test the seasonal variations before we do more internal investment in renewables .”
It is also developing a small hydrogen test plant , and initially use it to replace natural gas in one of four pelletiser lines . Construction and commissioning will start by the end of next year .
Green hydrogen , for Ferrexpo , has two uses : as a gas replacement in the pelletisation process , and possibly to provide an alternative power source for mining auxiliary fleet .
“ In terms of the overall renewables strategy , there has to be a blend . It isn ’ t cost effective to use hydrogen for power generation .
“ We don ’ t want to take on significant tranches of debt . The commodity price will determine the rate of implementation of our decarbonisation plans .”
Electrification and energy efficiency are increasingly key subjects , especially as its fleet of 86 trucks is forecast to grow to 134 units . It has set a deadline for the first diesel engine replacement by 2027 , though no manufacturer has been selected yet , and he said the “ expectation ” is that its primary mining fleet will decarbonise by 2032 .
Meeting its own emission targets is just one element in the sustainable equation , and there are many uncertainties in the wider steel industry .
“ We recognise that steel industry will need to significantly reduce carbon inputs to meet their obligations . We ’ re seeing car manufacturers under pressure to have carbon-free steel by 2030 , which will be tough – 2040 to 2045 may be more feasible .” He said the bigger question is EXECUTIVE BIO
JIM NORTH
TITLE : CEO INDUSTRY : MINING LOCATION : DUBAI
Jim joined Ferrexpo in November
2014 and since then he has successfully managed the Company ' s operations and introduced world class operating practices . Previously , Jim was Chief Operating Officer of London Mining plc , where he was accountable for setting the company ' s operational and investment strategy around the world . Prior to this , he held a variety of senior operational management roles in multiple commodities with Rio Tinto and BHP .