The article discusses the potential for a green revolution in the iron and steel industry by utilizing electric smelting furnaces to convert Pilbara iron ore to pig iron, thereby decarbonizing steel production and generating substantial export revenue. By transitioning to green iron, Australia could address both the environmental impact of steel production, which contributes 8%-9% of global carbon emissions, and the need to replace declining coal and gas exports. However, this transition requires unprecedented investments in hydrogen production, electricity generation, and electrolysers, with the hope that economies of scale could lead to cost reductions in the future. Major players in the industry, such as RIO and BHP, are exploring the feasibility of implementing electric arc smelters, with promising projects like the Stegra green steel plant in Sweden showcasing real progress. As Australia faces pressure to reduce its carbon emissions and transition away from fossil fuel exports, developing a viable green steel export industry becomes essential. The article emphasizes the urgency of finding sustainable alternatives to fossil fuel exports and highlights the potential for green steel production to drive economic growth while addressing climate change challenges.