+ Who is Maritime Iron?

Maritime Iron is advancing the + USD $1 billion Iron Processing Facility using innovative and environmentally responsible FINEX technology to produce pig iron for sale to electric arc furnace steelmakers in North America and Europe.

Maritime Iron is headquartered in Toronto, Canada and is a privately-owned company with investment from financial institutions, pension funds, and high-net-worth individuals.

+ What is pig iron?

Pig iron is made from iron ore and is a critical intermediary product used by electric arc furnace (EAF) steelmakers.

Using high-purity FINEX pig iron allows EAFs to include recycled metals from scrapyards to make high-quality steel. The result is over 40% fewer carbon dioxide emissions, when compared to conventional iron- and steel-making processes using blast furnaces and basic oxygen furnaces.

+ What is FINEX technology?

The proposed Iron Processing Facility uses innovative FINEX technology that was jointly developed by Primetals Technologies and POSCO. Primetals is a joint venture between Siemens and Mitsubishi. POSCO – based in South Korea – is the world’s 4th largest steelmaker and has constructed and operated three FINEX facilities to date. Having international technology partners strengthens our ability to bring the best available ironmaking technology to Canada.

Pig iron produced using FINEX technology is made from fine iron ore and non-coking coals, limestone and dolomite. These ingredients are melted into a hot liquid metal, injected with pure oxygen, and formed into solid iron ingots that are approximately 94% pure iron. FINEX pig iron production does not use hazardous materials or chemical processing and does not result in tailings or solid wastes. The by-products of the process are a gas that can be used for cleaner power generation and aggregate (slag) which is used as an ingredient for making cement.

+ Why did Maritime Iron choose FINEX technology for pig iron production?

Steel production continues to increase by 5% per year to meet consumer demand. The industry is responding by implementing more efficient technology that increases production while also addressing more stringent environmental standards. FINEX technology is considered a game changer in the effort to substantially reduce CO₂ emissions.

Maritime Iron selected FINEX technology because of its many environmental benefits that help realize Sustainable Ironmaking and the Circular Economy in the following fundamental ways:

• Eliminates processes and levels of pollution associated with conventional blast furnace ironmaking and basic oxygen furnace steelmaking
• Recycles and reuses materials thereby reducing energy usage
• Maximizes use of natural resources by generating higher and more varied outputs
• Minimizes waste

Using FINEX results in improved air quality when compared to conventional ironmaking technology.

• 91% reduction in nitrogen oxide levels
• 94% reduction in sulphur oxide levels

+ How will Maritime Iron enable lower CO₂ emissions in the iron- and steel-making process?

Maritime Iron’s project contributes to lower CO₂ emissions in the iron- and steel-making process in three key ways:

• The + USD $1 billion Iron Processing Facility proposed by Maritime Iron will use innovative and environmentally responsible FINEX technology to produce pig iron for use by electric arc furnace (EAF) steelmakers in North America and Europe. The use of FINEX and EAF technology will result in 40% fewer CO₂ emissions per tonne of steel when compared to conventional iron- and steel-making processes.

• FINEX technology can use already existing piles of iron ore fines to make pig iron. As such, Maritime Iron’s project eliminates the creation of new CO₂ emissions from mining activities.