Bühler GmbHTBA GroupPort of StocktonCimbriaTelestackVan Aalst
  • Vigan
  • Port of Stockton
  • Bühler GmbH
  • TBA Group
  • TMS Awards 2023
  • Geneva Dry

Partnership to accelerate green steel transition

Partnership to accelerate green steel transition

(Posted on 09/08/23)

Rio Tinto and H2 Green Steel, an industrial startup establishing large scale production of green steel, have signed a multi-year supply agreement for high grade direct reduction iron ore pellets from Rio Tinto’s Iron Ore Company of Canada (IOC) operations. Rio Tinto will also purchase and on-sell a part of the surplus low carbon hot briquetted iron (HBI) produced by H2 Green Steel during the ramp-up of its steelmaking capacity.

IOC’s direct reduction pellets will account for a significant part of the iron ore supply to H2 Green Steel’s flagship plant in Boden, Sweden, which will be one of the world’s first large-scale producers of low carbon iron and steel.

The fully integrated, digitalised, and circular plant is expected to start operations in 2025, processing direct reduction pellets into HBI and then making steel through electric arc furnaces using green hydrogen. The Boden site will hold one of the world’s largest electrolysis plants for green hydrogen production.

The production of steel, a key material for infrastructure and net-zero energy transition, currently contributes around 8% of global carbon emissions. By using green hydrogen in electric arc furnaces instead of coal in traditional steelmaking with a blast furnace, CO2 emissions can be reduced by up to 95 percent.

H2 Green Steel Chief Executive Officer Henrik Henriksson said: “This is a significant milestone for our project in Boden. Not only by securing a supply of the high-quality iron ore needed for our green steel production, but also because we have a buyer for a portion of the HBI we initially expect to produce. Rio Tinto is a global leader in the mining industry and we welcome its concrete actions to accelerate the decarbonisation of the steel industry.”

Rio Tinto Head of Steel Decarbonisation Simon Farry said: “We are partnering across the steel ecosystem to find better ways to support the decarbonisation of iron and steel making, and to reduce our scope 3 emissions. Our supply of high-grade iron ore pellets will support the acceleration of H2 Green Steel’s project, and on-selling their low-carbon HBI will enable us to gain a deeper understanding of the future needs of our customers and end users in the emerging green iron and steel market.”

Latest News

Bauxite and aluminium businesses deliver stable Rio Tinto results

(Posted on 18/04/24)

Bauxite production of 13.4 million tonnes was 11% higher than the first quarter of 2023 for Rio Tinto... Read more


Rio Tinto spends more than A$16.1 billion with Australian suppliers

(Posted on 15/04/24)

Rio Tinto increased its spend with suppliers and local businesses in Australia to more than A$16.1 billion... Read more


Cargill increases its renewable energy capacity by more than 40%

(Posted on 15/04/24)

Cargill has reported increasing its contracted renewable energy capacity by 42% after signing five new... Read more


Agreement to set up KEZAD steel recycling and production facility

(Posted on 29/03/24)

The UAE’s largest operator of integrated and purpose-built economic zones, Khalifa Economic Zones... Read more


Senate legislation includes phosphate and potash as critical minerals

(Posted on 25/03/24)

The Fertilizer Institute (TFI) has praised the U.S. Senate for introducing bipartisan legislation to... Read more


Agribusiness expert’s legacy and optimism for GrainCorp’s future

(Posted on 18/03/24)

Farmer, Company Director and long-standing member of the GrainCorp Board of Directors, Dan Mangelsdorf... Read more


Research offers Rotterdam guidelines for raw material transition

(Posted on 15/03/24)

Different product processes, non-fossil raw materials and rare materials are crucial for a CO2-neutral... Read more


Bunge Chevron Ag Renewables to build Louisiana processing plant

(Posted on 10/03/24)

Bunge and Chevron have announced approval of a final investment decision for their joint venture Bunge... Read more


Funding to decarbonise iron ore processing in Labrador West

(Posted on 29/02/24)

The Government of Canada HAS awarded C$18.1 million from its Low Carbon Economy Fund to Rio Tinto&rsquo... Read more


Australia’s biggest renewables deal to repower Gladstone aluminium operations

(Posted on 22/02/24)

Rio Tinto has signed Australia’s largest renewable power purchase agreement (PPA) to date to supply... Read more


Geneva DrySailors SocietyTMS Awards 2023ViganPort of South Louisiana
  • Sailors Society
  • Cimbria
  • Telestack

Subscribe to our newsletter

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