Mr Hogg highlighted Britain’s natural advantage in making steel from scrap given the very large “reservoir” of scrap available as a raw material in Britain.
He was speaking to 70 guests of the Company of Cutlers in Hallamshire who visited Liberty’s Rotherham plant following the annual showcase ‘Cutlers Feast’ in Sheffield the previous night.
He described Liberty’s GREENSTEEL strategy which focuses on low carbon production methods, including scrap recycling in electric arc furnaces and the increasing use of renewable energy.
Mr Hogg said: “Steel is a 100 per cent recyclable material and the good news is that the British economy naturally generates more than ten million tonnes of steel scrap a year.
“However, most of this is currently exported for melting abroad. At the same time, any blast furnace operating in the UK needs to import all of the iron ore and coal required for steelmaking by that method.”
He added: “Making steel through recycling more of our own scrap reservoir makes economic sense as well as being more environmentally friendly. Steel in vehicles, buildings, consumer goods and infrastructure can all be made into new steel.”