The basic feasibilities of a novel alternative ironmaking technology based on the direct gaseous reduction of fine iron oxide concentrates in a suspension reduction process are investigated. The ultimate objective is to eliminate or drastically reduce the generation of CO₂ in the steel industry. The process would use gaseous reducing agents, such as hydrogen, natural gas, a reducing gas generated by partial combustion of coal or waste plastics, or a combination thereof. The process can be a part of an overall continuous direct steelmaking process, in which case the product from this process will be collected in a molten state, or the product may be collected in the solid state to be used as a feed to a secondary steelmaking process.