BlueScope plans to be ‘fast follower’ in green steel
Simon EvansSenior reporter
Updated
Key Points
- Revenue ($b) 5.83, down 0.9pc from the year-earlier 5.88b
- Pre-tax profit ($m) 490.2 v 273.5
- Net profit ($m) 330.3 v 185.8
- Interim dividend (¢) 6.0 v 6.0, payable on March 30
Australia’s largest steelmaker is assessing options to upgrade its Port Kembla steelworks, with the most likely being an $800 million reline of a blast furnace because it says “green steel” technologies are not yet fully commercially viable and may not be until the 2040s.
BlueScope chief executive Mark Vassella says the most likely option will be to spend between $700 million and $800 million on a reline of the No. 6 blast furnace, which was mothballed in 2011 and now sits idle.
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