Flowsheet development,process simulation and economic feasibility analysis for novel suspension ironmaking technology based on natural gas: Part 3 – Economic feasibility analysis
Restricted accessResearch articleFirst published online January, 2013
Flowsheet development,process simulation and economic feasibility analysis for novel suspension ironmaking technology based on natural gas: Part 3 – Economic feasibility analysis
A novel gas–solid suspension ironmaking process with much less energy consumption and carbon dioxide emissions than the current blast furnace technology is under development at the University of Utah. The proposed process is based on flash reduction of iron ore concentrate with a gaseous reagent, such as hydrogen, syngas and/or natural gas. This Part 3 deals with economic feasibility analysis of a commercial scale novel ironmaking process based on natural gas, the flowsheet and process simulation of which are described in Parts 1 and 2. To evaluate economic feasibility, the net present value for 15 year operation was calculated for each process, using capital and operating costs estimated from available open references. The sensitivity of the estimated net present value to the variation in item costs was also analysed.
Get full access to this article
View all access options for this article.
References
1.
H. K. Pinegar, M. S. Moats and H. Y. Sohn: ‘Flowsheet development, process simulation and economic feasibility analysis for novel suspension ironmaking technology based on natural gas: Part 1 – Flowsheet and simulation for ironmaking with reformerless natural gas’, Ironmaking Steelmaking, 2012, 39, (6), 398–408.
2.
H. K. Pinegar, M. S. Moats and H. Y. Sohn: ‘Flowsheet development, process simulation and economic feasibility analysis for novel suspension ironmaking technology based on natural gas: Part 2 – Flowsheet and simulation for ironmaking combined with steam methane reforming’, Ironmaking Steelmaking, 2013, 40, (1), 32–43.
KimHG: Personal communication, University of Utah, Salt Lake City, UT, USA, October 2009.
7.
VarnbulerCBLemperleM: ‘Zero waste – zero cost concept for integrated steel mills Oxycup process for steel mill waste oxides’, ThyssenKrupp Stahl AG Küttner, http://www.sternasia.com/file/Zero_Waste.pdf (accessed 4 May 2010).
‘Pumped carbon mining (PCM) substitute natural gas (SNG) production cost estimate underground coal gasification with above ground processing’, HCEI-11-04-2, HCE, LLC Proprietary Information, November 2004, http://www.hceco.com/HCEI1104002.pdf (accessed September 2010).
10.
SimbeckDChangE: ‘Hydrogen supply: cost estimate for hydrogen pathways-scoping analysis’, NREL/SR-540-32525, National Renewable Energy Laboratory, Golden, CO, USA, November 2002.
11.
US Department of Energy: ‘Ironmaking process alternatives screening study’, Vol. 2, LG job No. 010529·01, Washington, DC, USA,October2000.
12.
Bureau of Labor Statistics: ‘Manufacturing, Table 9 Employment cost index for wages and salaries for private industry workers by occupational group and industry, employment cost index – June 2010’, Office of Compensation Levels and Trends, Washington, DC, USA,January2010.
13.
US Energy Information Administration Independent Statistics and Analysis: Table 5·6.A. ‘Average retail price of electricity to ultimate customers by end-use sector, by State, May 2010 and 2009’, Washington, DC, USA, http://www.eia.doe.gov/cneaf/electricity/epm/table5_6_a.html (accessed August 2010).
14.
US Environmental Protection Agency: ‘Combined heat and power (CHP) level 1 feasibility analysis’, Washington, DC, USA, 11, www.epa.gov/chp/documents/sample_fa_industrial.pdf (accessed September 2010).
15.
EcclestonE: Personal communication, Technip USA, Los Angeles, CA, USA,April2010.
16.
DinanT: ‘Trade-offs in allocating allowances for CO2 emissions’, Economic and Budget Issue Brief, Congressional Budget Office, Washington, DC, USA, 25April2007.
17.
KundakMLazicLCrnkoJ: ‘CO2 emissions in the steel industry’,Metalurgija, 2009, 48, 193–197.
18.
ChoiME: ‘Suspension hydrogen reduction of iron ore concentrate’, PhD thesis, Department of Metallurgical Engineering, University of Utah, Salt Lake City, UT, USA, August2010.
19.
SohnHY: ‘Suspension hydrogen reduction of iron oxide concentrate’, American Iron and Steel Institute Technology Roadmap Program Final Project Report for Phase 1, DE-FC36-97ID13554, American Iron and Steel Institute, Washington, DC, USA,March2008.
20.
Organization for Economic Co-operation and Development, and International Energy Agency, CO2 Capture & Storage: ‘IEA energy technology essentials’, International Energy Agency, Paris, France, December2006.
