https://www.miningweekly.com
Business|Innovation|Iron Ore|Manufacturing|Mining|Projects|Resources|Steel|Technology|Manufacturing |Solutions|Environmental
Business|Innovation|Iron Ore|Manufacturing|Mining|Projects|Resources|Steel|Technology|Manufacturing |Solutions|Environmental
business|innovation|iron-ore|manufacturing|mining|projects|resources|steel|technology|manufacturing-industry-term|solutions|environmental

Rio strikes carbon deals

16th December 2020

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Diversified miner Rio Tinto has pledged $10-million to research low carbon steel making projects in China, while also inking a memorandum of understanding (MoU) for a similar investment in Japan.

The miner on Wednesday said that it has committed to invest $10-million with China  Baowu Steel Group over the next two years in low-carbon steelmaking projects and research.

This investment is the next step in advancing the partnership formed between Rio Tinto, China Baowu and Tsinghua University in 2019 to develop and implement new methods to reduce carbon emissions and improve environmental performance across the steel value chain.

Rio’s investment will fund the joint establishment of a Low Carbon Raw Materials Preparation research and development (R&D) centre, which will initially prioritise the development of lower carbon ore preparation processes.

This will include creating two ore preparation pilot plants, one to use biomass and the other exploring using microwave technology. The investment will also support work on carbon dioxide utilisation and conversion at the China Baowu Low Carbon Metallurgical Innovation centre, which is a Baowu-led open platform for advancing metallurgical technologies to support the low-carbon transformation of the steel industry.

These investments will advance technologies that will be crucial in reducing emissions from China’s prevalent iron and steel making process, and will support both the short and long-term decarbonisation goals of the steel industry. As the world’s largest steel producer, China Baowu’s leadership in advancing low-carbon steel solutions is an important pillar in supporting China’s target of striving to be carbon neutral by 2060.

“This investment with our partners at China Baowu is an important step in our climate partnership. We have been able to identify research and development projects which have the potential to significantly reduce the carbon emissions associated with existing steelmaking processes, as well as developing technologies for the future of steelmaking to support the transition to a low-carbon economy,” said CEO Jean-Sebastian Jacques.

“The initial priority areas identified by the partnership for investment show the value of working together to share resources and utilise the strengths of the respective teams to make progress towards a low-carbon steel value chain.”

Meanwhile, the miner has also signed an MoU with Japan’s largest steel producer, Nippon Steel Corporation, to to jointly explore, develop and demonstrate technologies to transition to a low-carbon emission steel value chain.

The purpose of this partnership is to explore a breadth of technologies for decarbonisation of the entire steel value chain from iron ore mining to steelmaking, including integrating Rio's iron-ore processing technology and Nippon Steel's steelmaking technology to establish an innovative steel manufacturing process with low carbon emissions.

The partners have agreed to a partnership model in line with the long-term and complex nature of the transition to carbon neutrality for the steel industry. This model allows the companies to take a long-term view to enable the pursuit of new and promising technologies as the global steel transition evolves.

“One of Rio Tinto’s four pillars in addressing climate change is to partner with customers to reduce the carbon footprint across our value chain. Nippon Steel has been an important partner for our business with a very long history and we are delighted to be able to extend our partnership to work together to reduce carbon emissions across the steel value chain,” Jacques said.

Edited by Creamer Media Reporter

Comments

Showroom

Stewarts & Lloyds
Stewarts & Lloyds

Stewarts & Lloyds today supplies steel and tube, pipe and fittings, valves, pumps, irrigation, fencing, profiling and roofing products. The cash...

VISIT SHOWROOM 
AutoX
AutoX

We are dedicated to business excellence and innovation.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.114 0.151s - 110pq - 2rq
Subscribe Now