Australia approves a $4 billion Port Hedland hot briquetted iron project producing 2 million metric tons annually. The facility represents one of the country's largest industrial investments in advanced iron processing technology. The project creates 2,000 construction jobs alongside 800 permanent positions. Hot briquetted iron commands premium pricing compared to raw iron ore exports. The facility incorporates cutting-edge direct reduction technology using natural gas. The strategic location enables efficient shipping to Asian steel markets.