The FINEX process is an innovative, next generation iron making technology developed by http://www.siemens-vai.com Siemens VAI and POSCO. Molten iron is produced directly using iron ore fines and non-coking coal rather than processing through sintering and coke making which had been essential to traditional blast furnace methods. Because the preliminary processing of raw materials is eliminated, the construction of the FINEX plant costs less to build than a blast furnace facility of the same scale.