U.S. Steel said late Thursday that it has begun looking for a site in the U.S. to build a state-of-the art mini mill at an estimated cost of $3 billion.
The Pittsburgh-based steelmaker said the investment would be a significant step toward achieving the company’s goal of reducing its global greenhouse gas emissions and would help meet its target of net zero carbon emissions by 2050.
The planned mini mill will combine two electric arc furnaces with differentiated steelmaking and finishing technology. Electric arc furnaces are cleaner and more flexible than the company’s legacy fleet of blast furnaces.
U.S. Steel operates electric arc furnaces at its Fairfield Works in Alabama and its Big River Steel mini mill in Arkansas. Potential sites for the new mini mill include Alabama and Arkansas, as well as greenfield sites, the company said.