In its annual report, Hill said DBI also signed a memorandum of understanding and a funding agreement to complete detailed feasibility studies for the potential for a green hydrogen production, storage and export facility at the Dalrymple Bay Terminal in Queensland.

"These initiatives are designed to complement our current export position and deliver on our strategy for the Dalrymple Bay Terminal to play an even bigger role in the export of key resources to satisfy the world's demand for steel and low carbon energy sources," he said.

"DBI provides essential infrastructure for a world in transition. Through the Dalrymple Bay Terminal, DBI serves as a global gateway from the Bowen Basin and is a critical link in the global steelmaking supply chain."

Hill said the company recognises that while the steel and met coal industry was carbon intensive, it had an important role in the transition to a low carbon economy, including its use in renewable energy generation.

"To remain resilient in a changing landscape, we have commenced the development of an overarching transition strategy, which will allow DBI to prepare for a future amidst a changing climate and consider opportunities to best position and diversify our business," he said.

"Dalrymple Bay Infrastructure has also committed to achieving net zero Scope 1 and Scope 2 greenhouse gas emissions."