Midmetal is a Saudi Arabian company established in 2020 to enhance and implement one of the “NUSANED“ potential initiatives to produce “ Green Pig Iron “ by exploring the advanced technologies available in the market with less cost and with zero carbon emission . This project aligns with "Saudi Vision 2030," focusing on localizing downstream industries and reducing carbon emissions.
Midmetal-KSA is uniquely placed to service the EAF markets in the kingdom , Middle East , Europe and the USA with a high-grade pig iron product produced using the HIsmelt process. As carbon emission reduction initiatives drive the steel market from blast furnaces to electric arc furnaces and China allows an increase in the importation of scrap steel, we believe the Green High Purity Pig Iron market is set to grow substantially.
In addition, Midmetal has an internal supply of low-cost steel works waste and low-cost renewable electricity, resulting in a low forecasted operating cost.
In addition, Midmetal has partnered with Magnum Mining and Exploration Ltd, an Australian company that owns an iron ore mine in Nevada, USA.
Magnum will supply low-cost high purity iron ore concentrate to the HIsmelt facility. Magnum and Midmetal will also partner with a Malaysian supplier of low-cost biochar with carbon credits that will offset any carbon emissions, and therefore allow the pig iron to be certified as net-zero carbon, or green.