What’s unique about Maritime Iron’s manufacturing process?
There are several characteristics that are advantageous to the FINEX iron-making technology to be used by Maritime Iron.
1. Iron feed flexibility
The technology utilizes iron feeds and fines that normally cannot be used by traditional steel-making technologies. This holds several advantages.
By being able to use off-specification iron feeds, Maritime Iron can lower its input costs. The process does not require premium cost iron pellets or lump. This also eliminates the need for expensive pelletizing or sintering facilities on site, lowering the capital intensity of the project.
This allows the company flexibility in sourcing raw materials and to be opportunistic in sourcing raw materials.
2. No coking facilities
Unlike most coal-based steelmaking technologies, the Project will not require coke ovens or coke production. This lowers the energy intensity of the project, and reduces greenhouse gas emissions.
3. Environmentally Friendly
FINEX iron-making technology was created to be environmentally friendly, and has significantly lower emission rates of SOx and NOx gases as well as dust/particulate matter as compared to a traditional blast furnace. The technology captures most of the pollutants in an inert state in the slag. Released hydrocarbons are destroyed as part of the process. As noted, by-product process gases will be used by the neighbouring NB Power generating station to produce electricity, reducing its coal usage, and thus its greenhouse gas footprint.