Molten oxide electrolysis (MOE) is a carbon-free, electrochemical technique to decompose a metal oxide directly into liquid metal and oxygen gas. From an environmental perspective what makes MOE attractive is its ability to extract metal without generating greenhouse gases. Hence, an inert anode capable of sustained oxygen evolution is a critical enabling component for the technology. To this end, iridium has been evaluated in ironmaking cells operated with two different electrolytes. The basicity of the electrolyte has been found to have a dramatic effect on the stability of the iridium anode. The rate of iridium loss in an acidic melt with high silica content has been measured to be much less than that in a basic melt with high calcia content.