Magnum: Quest for Verdant Metallurgical Transmutation
Synopsis: Magnum Mining & Exploration, an Australian company with international ambitions, emerged in 2023 as a trailblazer in green steel production. Backed by investors Midmetal of Saudi Arabia, Fortescue Metals Group, and Anglo American, Magnum is set to transform metallurgical practices. The company's centerpiece is the HIsmelt technology, a pioneering process that combines direct smelting reduction with biochar use, aiming for net-zero carbon emissions. With a planned capacity of 1.1 million metric tons of green, high-purity pig iron annually at its Saudi Arabian plant, and global expansion potential exceeding 3 million metric tons, Magnum plans to start operations within the next 24 to 48 months.