ViganVan AalstSailors SocietyIMPA EventsTelestackGeneva Dry
  • TMS Awards 2023
  • Bühler GmbH
  • IMPA Events
  • Vigan
  • Port of Stockton
  • Telestack

Extended climate partnership to decarbonise steel value chain

Extended climate partnership to decarbonise steel value chain

(Posted on 12/06/23)

China Baowu, the world’s biggest steelmaker, and Rio Tinto, the world’s largest iron ore producer, have signed a Memorandum of Understanding (MoU) to explore a range of industry leading new projects in China and Australia to help decarbonise the steel value chain.

Under the MoU, China Baowu and Rio Tinto plan to jointly advance specific decarbonisation projects, demonstrating their commitment to play a leading role in the industry’s low-carbon transformation.

The MoU, signed in Shanghai by Rio Tinto Chief Commercial Officer Alf Barrios, and China Baowu Vice President Hou Angui, follows the recently announced $2 billion Western Range Joint Venture in the Pilbara region of Western Australia, involving Rio Tinto and Baowu.

The projects include:

  • Research, build and demonstrate a pilot-scale electric melter at one of Baowu’s steel mills in China. This will enable low-carbon steel making utilising Direct Reduced Iron (DRI) that has been produced from low and medium grade ores.
  • Optimise pelletisation technology for Australian ores as a feedstock for low-carbon shaft furnace-based direct reduction.
  • Expand the development of China Baowu’s HyCROF technology which can largely mitigate CO2 emissions from the blast furnace process.
  • Jointly study opportunities for producing low-carbon iron in Western Australia.

These innovative projects are an outcome of the long-standing collaboration between Rio Tinto and China Baowu spanning 50 years. To progress each initiative, both companies have committed to sharing resources and expertise.

Rio Tinto’s Chief Commercial Officer Alf Barrios said, “Rio Tinto and China Baowu are united in a commitment to accelerating the delivery of low-carbon solutions for the entire steel value chain. 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.

“China’s commitment to curbing emissions and promoting high-quality green development is strongly aligned with our own position where climate change and the low-carbon transition are at the heart of our strategy.”

Rio Tinto’s Chief Executive of Iron Ore Simon Trott said, “Our relationship with China Baowu in Western Australia has been a proud and successful one, extending back more than 40 years. We look forward to progressing this study into the potential of low-carbon iron making in Western Australia as we work to ensure a positive future for Pilbara ores in a green steel world.

China Baowu said, “With the mission of building an industrial ecosystem to promote the progress of human civilisation, China Baowu is committed to working with Rio Tinto to jointly study and provide low-carbon and green comprehensive solutions for the steel value chain, help the low-carbon transformation and upgrade of the steel industry chain, and support the world to address the challenge of climate change with pragmatic actions.”

Rio Tinto and China Baowu have a long history of collaboration including on project development in Australia and Guinea, new technology research and deployment, and steel making emissions reduction.

Latest News

Rio Tinto progresses Rhodes Ridge to next study phase

(Posted on 07/12/23)

Rio Tinto has approved a $77 million (A$110 million) pre-feasibility study (PFS) to progress development... Read more


Rio Tinto and Giampaolo complete aluminium recycling transaction

(Posted on 03/12/23)

Rio Tinto and Giampaolo Group have completed a transaction to form the Matalco joint venture, combining... Read more


Partnership creates UAE’s largest galvanising pool in KEZAD

(Posted on 03/12/23)

Khalifa Economic Zones Abu Dhabi – KEZAD Group, the largest operator of integrated and purpose... Read more


ADM launch of regenerative agriculture programme in Brazil

(Posted on 26/11/23)

ADM, a leader in sustainable agriculture supply chains, has announced an important expansion of its... Read more


$140m Investment agreement to build all-in-one nickel refinery

(Posted on 17/11/23)

Trafigura, a market leader in the global commodities industry, has agreed to invest in an all-in-one... Read more


ADM and Marathon take next step in meeting renewable fuels demand

(Posted on 17/11/23)

ADM and Marathon Petroleum Corp. have celebrated the opening of their joint venture soybean processing... Read more


US Grains Council bids farewell to Castillo

(Posted on 13/11/23)

Former U.S. Grains Council (USGC) Director of Global Programmes Alejandra Castillo was named the successor... Read more


Rio Tinto and Codelco complete Nuevo Cobre exploration agreement

(Posted on 13/11/23)

Rio Tinto has completed the acquisition of PanAmerican Silver’s stake in Agua de la Falda and... Read more


New Cargill soybean processing plant connects farmers to growing demand

(Posted on 05/11/23)

Cargill has completed an expansion and modernization project at its integrated soybean crush and refined... Read more


BHP approves US$4.9bn investment in stage two of Jansen potash project

(Posted on 31/10/23)

BHP has approved an investment of US$4.9 billion (C$6.4 billion) for stage two of the Jansen potash... Read more


Bühler GmbHTBA GroupPort of StocktonTMS Awards 2023CimbriaPort of South Louisiana
  • Cimbria
  • Van Aalst
  • TBA Group

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping