Agreements to accelerate decarbonisation of steelmaking in Europe

(Posted on 20/11/24)

Rio Tinto has entered into definitive agreements with GravitHy, an early-stage industrial company, to help accelerate GravitHy’s steel decarbonisation project in France. As part of this collaboration, Rio Tinto will supply high-grade direct reduction iron ore pellets from its Iron Ore Company of Canada (IOC) operations to GravitHy’s planned operation, as well as manage the sales and marketing of ultra-low carbon Hot Briquetted Iron (HBI) GravitHy produces.

GravitHy's proposed two million tonnes per year iron production facility at Fos-sur-Mer, France, is planned to be commissioned in 2028. The facility, which is located next to a deep seaport, will feature ultra-low carbon hydrogen production infrastructure, powered by existing grid-connected nuclear power, to process direct reduction pellets into HBI. This process has the potential to reduce ironmaking-related CO2 emissions by more than 90%.

Steel produced with low-carbon emissions is an essential component of the net-zero energy transition. The production of iron and steel contributes around 8% of global carbon emissions and requires new technologies, redesigned processes, and new infrastructure to decarbonise.

GravitHy Chief Executive Officer José Noldin said: “We are developing one of the most advanced ultra-low-carbon iron projects worldwide, designated by the French government as an ‘Industrial Project of Major National Interest’. By combining our business ambitions, agility, and technological capabilities with Rio Tinto’s global leadership in mining and steel decarbonisation, we are ensuring a solid sourcing and go-to-market strategy to help accelerate the development of this project.”

Rio Tinto Head of Steel Decarbonisation Simon Farry said: “This collaboration is aligned with Rio Tinto’s steel decarbonisation strategy to accelerate the development of low-carbon Electric Arc Furnace steelmaking with high-grade iron as feedstock. This will allow us to both reduce our Scope 3 emissions and create valuable decarbonised pathways for our high-grade iron ore. We are excited to support GravitHy’s project and expand our understanding of the emerging green iron and steel market.”

Latest News

Simandou partners celebrate start of operations

The President of the Republic of Guinea has joined project partners WCS1, Baowu, Chinalco and Rio Tinto... Read more

GSC launches mining advisory division, strengthening global investment capabilities

GSC (Global Strategic Commodities) has announced the launch of its dedicated mining advisory division... Read more

SSAB issues first green bonds amounting to SEK2,800m

SSAB AB has successfully issued its inaugural green bonds under its EUR 2 billion EMTN programme, dated... Read more

Anglo American publishes shareholder circular for merger with Teck

On 9 September 2025, Anglo American plc and Teck Resources Limited announced that they had reached an... Read more

Bunge closes agreement to acquire NWT grain elevator assets

Bunge has successfully closed its purchase agreement for the grain elevator assets of North West Terminal... Read more

NGFA applauds Senate committee for advancing Grain Standards Act reauthorisation

The National Grain and Feed Association (NGFA) in the USA has applauded the Senate Agriculture Committee... Read more

Rio Tinto announces board changes.

As Rio Tinto previously reported, the size of its Board peaked at 14 Directors during a transitional... Read more

ADM advances quality capabilities with new central milling laboratory

ADM , a global leader in human and animal nutrition, has celebrated the opening of its new Central Milling... Read more

Bunge announces reporting segment changes and recast outlook

Bunge Global SA has announced that it has changed its segment and volume reporting to align with the... Read more

Open Trade Coalition calls for bold and open EU trade policy

As the European Parliament prepares for the confirmation hearings of the new Commissioners, the Open... Read more