LMS

The scrap metal recycler intends selling its 50 per cent holding in the biogas and solar energy group, with analysts saying it may fetch $400 million.

[Australia’s largest steelmaker](https://www.afr.com/companies/manufacturing/bluescope-and-rio-tinto-look-at-greener-steel-20211029-p5948h), BlueScope, on a small pilot plant at BlueScope’s Port Kembla steelworks to test a lower emissions iron feed and the use of “green hydrogen” under a Hydrogen Direct Reduction and Iron Melter process. Steel is a crucial part of the global economy through its widespread use in infrastructure, construction, whitegoods and vehicle manufacturing. The opportunities in green steel are vast for Sims. “LMS has grown to be a leading bio-energy and methane abatement company in Australia, and expanded into new markets including the United States,” he said. Sims has been a 50 per cent owner of LMS Energy for 22 years. The company’s shares had dropped 28 per cent in the past year.