In a bold move, Namibia’s Oshivela Project aims to reshape steel production by cutting emissions entirely, marking a historic shift forward.
Embarking on a new era of sustainable industrial practices, the Oshivela Project, also known as the HyIron Oshivela Project, is ready to make its mark in history. Scheduled to start operations in the latter half of 2024, this pioneering initiative will reveal Africa's first industrial production of iron with a net zero emissions footprint. Using the ingenious HyIron technology, a process that utilizes renewable energy resources, the project is set to produce an annual output of 15,000 metric tons of Direct Reduced Iron (DRI) during its initial phase.
This groundbreaking endeavor is not merely a showcase of technological prowess; it represents a crucial step toward meeting the global iron demand, which is projected to rise to 2.2 billion metric tons per year by 2030. The project's innovative approach not only reduces greenhouse gas emissions but also serves as a symbol of hope for a sustainable future in industrial production.
Embodying the spirit of international collaboration, the Oshivela project stands as a testament to the unity of nations in pursuit of a common goal. It is a partnership between two continents, with Namibian and German companies joining forces in a shared sustainability vision. Led by CO2GRAB, HyIron GmbH, and TS Elino GmbH in Germany, and supported by the German Federal Ministry of Economics and Technology, this endeavor has garnered a substantial commitment of over €13 million ($13.8 million) over the next two years, solidifying the unity of innovation and dedication.
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