Rio Tinto, BHP tie up in Australian steel decarbonisation pilot [Reuters]
BLUESCOPE STL UNS/ADR NEW (BLSFY)
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Source: Reuters
new tab said on Friday they would jointly investigate the development of a pilot project to decarbonise steelmaking that could be commissioned as early as 2027. Australia's two largest iron ore producers and its biggest steelmaker BlueScope Steel (BSL.AX) , opens new tab said in a joint statement the collaboration would look to develop and "potentially invest" in the country's first ironmaking electric smelting furnace (ESF) pilot plant. If successful, it could help open a potential pathway to near-zero greenhouse gas emission-intensity operations for steelmakers that rely on Australian iron ore to meet global steel demand, the statement said. The production of steel, a key material for infrastructure and the net-zero energy transition, currently contributes around 8% of global carbon emissions. "The carbon intensity of iron and steelmaking requires profound change to meet the needs of our planet and our climate objectives," said Rio Tinto Iron Ore Chief Executive Simon Trott.
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