Molycop – Sustainability in the Australian Steel Sector
Hunter based mining consumables company, Molycop, has a 100-year track-record of continuously developing and introducing improved and higher performing steel products that have assisted its customers to improve the efficiency of their operations. Molycop’s dedication to sustainable steel manufacturing is evident through its support of renewable energy generation, recovery and reuse of valuable resources and the adoption of revolutionary recycling technologies.
Molycop is involved in the NSW Government’s Circular Economy Innovation Network (CEIN) which is aimed at facilitating collaboration between industry, government, local councils, and researchers to address the challenges associated with the transition to a circular economy. Molycop is committed to increasing the recovery of valuable resources from waste streams through its investments to build its circular economy capabilities.
Molycop produces steel using over 90 per cent recycled raw material content. The process uses recycled steel scrap which is generated from end-of-life products such as cars, white goods, demolition scrap, rail tracks, tyre cord and mattress springs as well as spent products collected from customers. Each year Molycop’s reuses and refines scrap steel generated from recycling 200,000 cars, steel wire from 2 million tyres and the steel springs from over 300,000 mattresses.
In April of 2021, Molycop purchased national waste management and recycling business, JLW Services. JLW Services provides integrated logistics and waste management solutions for businesses, government, councils, the mining industry, and the community. JLW Services has been rebranded Molycop 360 and will continue to provide specialised waste management and recycling services for hard-to-dispose of products such as end-of-life tyres, mattresses, conveyor belts, intermediate bulk containers and poly pipe.
Molycop’s acquired this business to further build its presence in the circular economy so that it can better support customers and their sustainability goals. Growing local circular economy capabilities is also expected to provide long-term benefits to the Hunter region by encouraging the development of new capabilities and associated industries.
President of Molycop Australia, Michael Parker, states that this purchase “will cement our position at the forefront of responsible and sustainable steelmaking and manufacturing. We are committed to building the circular economy, liberating value from waste streams and supporting our customers’ sustainability goals.”