According to The Australian Financial Review, Australia's abundant and cheap wind and solar resources offer a historic opportunity to develop a hydrogen-based steel industry, offering a triple win for exports, jobs and emissions, according to The Grattan Institute.
The findings point to the chance for Australia to create a multibillion-dollar, export-focused manufacturing sector, at the same time saving thousands of jobs that are coming under threat from global emissions reductions imperatives.
A domestic industry that captured 6.5 per cent of the global steel market would generate about $65 billion in annual export revenue and create 25,000 manufacturing jobs in Queensland and NSW, a Grattan report published on Sunday found.
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