Future Forgeworks has officially commenced construction on the Swanbank Steel Mill, Australia’s first new steel facility in 30 years.

Located in Ipswich, the project will transform recycled scrap, such as old vehicles and appliances, into low-emissions green steel. Utilizing electric-powered steelmaking technology from SMS group, the mill aims to cut emissions by more than 70% and reach net-zero emissions by 2040.

Rohan Richardson, Managing Director and CEO at Future Forgeworks, expects first steel production by early 2028. At full capacity, the plant will produce 350,000 tons of Australian-standard reinforcing bar annually, meeting 90% of Queensland’s demand.

This domestic supply could replace $2 billion in imports, providing essential materials for homes, hospitals, and Brisbane 2032 Olympic infrastructure while strengthening local manufacturing through sustainable practices.