{"id":80904,"date":"2024-11-21T16:04:00","date_gmt":"2024-11-21T16:04:00","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/erongo-green-iron-project-secures-key-offtake-agreement"},"modified":"2024-11-21T16:04:00","modified_gmt":"2024-11-21T16:04:00","slug":"erongo-green-iron-project-secures-key-offtake-agreement","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/erongo-green-iron-project-secures-key-offtake-agreement","title":{"rendered":"Erongo green iron project secures key offtake agreement"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>A major milestone has been reached for the green iron project in the Erongo region with the announcement of HyIron\u2019s first significant offtake agreement.<\/b><\/p>\n

The announcement was made by chief executive and co-founder Johannes Michels during a media engagement event at the project site near Trekkopje on Tuesday.<\/p>\n

German steelmaker Benteler will buy up to 200 000t of direct reduced iron (DRI) from the company, Michels said.<\/p>\n

This is more than 13 times of HyIron\u2019s production capacity of 15 000t in the current first phase of the project\u2019s development.<\/p>\n

The company has also received enquiries from several other interested companies already, Michels said.<\/p>\n

Minister in the Presidency Christine \/\/Hoebes also attended the event.<\/p>\n

\u201cThis milestone contract will serve as the foundation for HyIron\u2019s future phases of production,\u201d she said.<\/p>\n

\u201cAs we position ourselves as a vital player in the global green supply chain, Namibian exports will shine brightly.\u201d<\/p>\n

The initial phase required investments of 30 million euros (about N$574 million), of which 13 million came in the form of grants from the German government.<\/p>\n

The remaining sum was mustered by the company\u2019s founders.<\/p>\n

HyIron expects the second phase of development to begin in mid-2025, which will result in a tenfold increase of solar power capacity, according to Michels.<\/p>\n

It will likely require investments totalling 230 million euros (about N$4.39 billion), and the process of engaging investors is almost completed, he said.<\/p>\n

The third phase is envisioned to start in 2026 and will once again increase capacity by a factor of 10.<\/p>\n

This will require another 2.3 billion euros (about N$43.9 billion).<\/p>\n

By 2030, HyIron aims to produce two million tonnes of DRI per year.<\/p>\n

HyIron\u2019s DRI production process is entirely carbon free due to its use of hydrogen as a fuel. The water utilised in the process is recycled infinitely.<\/p>\n

Therefore, no water source is being depleted.<\/p>\n

\u201cWe have started construction in April this year, taking just six months to build Namibia\u2019s second-largest solar power plant and the world\u2019s first green iron plant,\u201d Michels said.<\/p>\n

The construction process employed more than 60 small and medium enterprises from Namibia.<\/p>\n

Using only Namibian companies is also planned for the next phases of development, he said.<\/p>\n

HyIron on Tuesday installed two electrolyser units with a combined capacity of 12MW, the first in the country and the largest in southern Africa.<\/p>\n

This marks the addition of the final pieces of complex equipment at the site, with production expected to start early next year.<\/p>\n

Iron ore for DRI production will be sourced from the Kunene region and South Africa\u2019s Northern Cape.<\/p>\n

HyIron also expects iron producers from all over the world to bring their ore to Namibia to test its viability in the company\u2019s production process.<\/p>\n

In the long run, the company hopes to benefit from the upgrading and extension of TransNamib\u2019s rail infrastructure for the delivery of its iron ore.<\/p>\n

HyIron is currently in the process of launching a similar project in Australia.<\/p>\n

The company is also considering projects in Angola and Brazil, as well as in up to four additional locations in Namibia, Michels said.<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. A major milestone has been reached for the green iron project in the Erongo region with the announcement of HyIron\u2019s first significant offtake agreement. The announcement was made by chief executive and co-founder Johannes Michels during a media engagement event at the project site near Trekkopje on Tuesday. German steelmaker Benteler will […]<\/p>\n","protected":false},"author":84,"featured_media":80903,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234,236,233],"class_list":["post-80904","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nErongo green iron project secures key offtake agreement - Namibia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/erongo-green-iron-project-secures-key-offtake-agreement\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Erongo green iron project secures key offtake agreement\" \/>\n<meta property=\"og:description\" content=\"Africa-Press – Namibia. A major milestone has been reached for the green iron project in the Erongo region with the announcement of HyIron\u2019s first significant offtake agreement. The announcement was made by chief executive and co-founder Johannes Michels during a media engagement event at the project site near Trekkopje on Tuesday. 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