BEIJING : Rio Tinto has signed a memorandum of understanding (MoU) with China Baowu, the world's biggest steelmaker by volume, to develop projects aimed at enabling lower grade ore to be used in low-carbon steelmaking, the miner said on Monday.The demonstration projects include building a pilot-scale plan
BEIJING : Rio Tinto has signed a memorandum of understanding with China Baowu, the world's biggest steelmaker by volume, to develop projects aimed at enabling lower grade ore to be used in low-carbon steelmaking, the miner said on Monday.
"This MoU aims to address one of the biggest challenges faced by the industry - developing a low-carbon pathway for low-to-medium grade iron ores, which account for the vast majority of global iron ore supply," Rio Tinto chief commercial officer Alf Barrios said in a company statement.Lower quality ores, which can already result in higher emissions because more rock has to be processed to produce the same amount of ore, typically cannot be used in DRI.
Steel production generates up to 9 per cent of global emissions, according to the World Steel Association. Rio and Baowu said last year that they would together invest $2 billion in a project in the Pilbara region of Western Australia.
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