Western Australia is being considered for the development of a demonstration plant for a new, more sustainable method of iron ore pellet production, following Mineral Resources’ investment in the UK-based company developing the technology.
Potential locations in the UK and Europe are also being considered, with a decision on site selection expected by the end of 2023.
The new technology by Binding Solutions Limited (BSL) is expected to greatly reduce the emissions produced and energy consumed in the production of iron ore pellets.
BSL will use the $26.6 million investment to progress the design and construction of a demonstration plant capable of producing about 50t per hour of cold-bonded iron ore pellets.
BSL’s patented process uses minimal heat and energy to produce high-quality pellets or briquette products for the iron ore and steel industry.
BSL said the technology reduces energy use and CO² emissions by up to 95 per cent and 93 per cent respectively compared to traditional induration processes, while also virtually eliminating sulphur oxide and nitrogen oxide emissions.
The technology also enables reductions in capital investment costs of approximately 90 per cent per one megatonne per annum of production.
MinRes’s Managing Director, Chris Ellisom, said that BSL’s technology has the potential to play a major role in the decarbonisation of the global steel industry.
“MinRes has a track record of using innovation to solve problems and unlock value, and we are excited to partner with BSL to support this innovative technology.”
MinRes has the right to licence the BSL technology to manufacture cold-bonded pellets from iron ore at its mines, and it is the preferred builder of BSL pellet plants in global markets and will provide design, engineering, project management and procurement support for the demonstration plant.
BSL recently installed a two tonnes per hour pilot plant in its lab at the Materials Processing Institute in Teesside in the UK with the intention of running batches for customers.
BSL CEO, Julian Lee, said that the partnership with MinRes is a hugely significant step for BSL and further validation of the innovative technology BSL has developed in the UK.
“Working with such a respected player in the global mining industry has the potential to rapidly accelerate and de-risk the roll out of our technology by giving us access to the deep expertise and networks that MinRes has built with some of the industry’s largest players over many years,” Mr Lee said.
“We are now focussed on rapidly progressing plans for our demonstration plant and exploring the potential to apply our technology to lithium, a critical battery material.”
Featured image: MinRes Chief Executive, Iron Ore, Chris Soccio, with cold-bonded iron ore pellets. Image credit: Mineral Resources.
