U.S. Steel has said that it has begun looking for a site in the U.S. to build a state-of-the art mini mill at an estimated cost of $3 billion.

The Pittsburgh-based steelmaker said the investment would be a significant step toward achieving the company's goal of reducing its global greenhouse gas emissions and would help meet its target of net zero carbon emissions by 2050.

Potential sites for the new mini mill include Alabama and Arkansas, as well as greenfield sites, the company said.

Construction is expected to begin in the first half of 2022, with production beginning in 2024.