Namibia has secured its first commercial off-take agreement between HyIron and Benteler, a renowned German auto parts manufacturer, where Namibia will supply up to 200,000 tonnes of direct reduced iron, or DRI.
 
This was announced by the Minister in the Presidency, Christine ||Hoëbes, during her visit to the HyIron-Oshivelo site in the Erongo Region.
 
Namibia is emerging as a prominent producer of green iron, with an anticipated production of over two million tonnes of DRI by the year 2030.
 
||Hoebes says the true potential of the project is the creation of jobs, economic growth, and building a skilled workforce.
 
The economic impact of this transformation will resonate across multiple sectors such as construction, energy, technology, and logistics and specialised training programs that ensure the development of skills for the workforce.
 
Green iron is a sought-after product exported and embraced by global markets. The collaboration with relevant stakeholders has injected over N$90 million into the country's economy, ensuring that more than 17% of the project value remains within the local communities.
 
This milestone contract will serve as the foundation for HyIron's future phases of production.