Magnum Mining and Exploration (MGU) has welcomed the support of US Senator Joe Manchin in requesting appropriation for its Appalachian iron project.
The company announced its subsidiary, Magnum Green Steel USA, was working in cooperation with the West Virginia Department of Economic Development (WV DED) on the project.
Magnum confirmed that Senator Manchin’s office submitted the project as a congressionally directed spending request to the Appropriations Committee.
MGU CEO Neil Goodman thanked Senator Manchin for his backing of the project.
“The company is most grateful to Senator Manchin for his support of this important project that Magnum is working on in cooperation with the West Virginia Department of Economic Development,” he said.
“The Senator’s request to the Appropriations Committee is a significant step forward for Magnum, that may result in crucial research and financial support to advance the Appalachian iron project to convert waste iron oxide materials from legacy sag dumps into high-value pig iron, using sustainably sourced biochar.”
Magnum’s end goal for the project is to produce net zero carbon green steel, converting locally sourced, sustainably produced biomass into biochar that will generate carbon credits used to offset carbon emissions from pig iron smelting.
The project’s biochar-fed HIsmelt pig iron plant hosts the potential to eliminate millions of tonnes of carbon emissions per year in the steel and cement industries, and co-generate renewable power.