Australia has established a $500 million fund to develop a globally competitive green iron industry by 2031. The initiative aims to transform the country into a low-emissions iron production leader by leveraging its renewable energy and mineral resources. 

This investment is expected to generate billions in export earnings and create thousands of jobs while reducing emissions.

The fund complements other national green manufacturing programs, including credits for green aluminium. 

The applications for this fund will open on October 28, 2025, and finish on January 16, 2026.