Port of StocktonTelestackViganSailors SocietyCimbriaPort of South Louisiana
  • Port of South Louisiana
  • Cimbria
  • Telestack
  • Van Aalst
  • Port of Stockton
  • Geneva Dry

Rio Tinto signs steel MOU

Rio Tinto signs steel MOU

(Posted on 27/09/19)

Rio Tinto, one of the world’s largest iron ore producers, has signed a Memorandum of Understanding (MOU) with China’s largest steel producer, China Baowu Steel Group and Tsinghua University, one of China’s most prestigious and influential universities (the Parties), to develop and implement new methods to reduce carbon emissions and improve environmental performance across the steel value chain. The China Iron and Steel Association (CISA) invited the Parties to sign the MOU at its China International Steel and Raw Materials Conference held in Qingdao.

The MOU will enable the formation of a joint working group tasked with identifying a pathway to support the goal of reducing carbon emissions across the entire steel value chain, which accounts for between seven and nine per cent of the world's carbon emissions.1 The working group will establish a joint action plan on how to best utilise the Parties’ complementary strengths in research and development, technologies, processes, equipment, logistics, industry coordination and policy advisory capacities to combat climate change and improve environmental performance.

Rio Tinto chief executive, J-S Jacques said "This pioneering partnership across the steel value chain will bring together solutions to help address the steel industry's carbon footprint and improve its environmental performance.

"The materials we produce have an important role to play in the transition to a low carbon future and we are committed to partnering with our customers and others to find the most sustainable ways to produce, process and market them. We are already doing this in aluminium and now, through this partnership, we will be doing it in the steel industry.

"We thank CISA for its support and look forward to collaborating with China's largest steel producer, China Baowu, and Tsinghua University, a global leader in climate change research and collaboration."

China Baowu chairman, Chen Derong said "China Baowu is committed to ecological and sustainable development.

We will promote sustainable production through intelligent manufacturing. We want to make a difference to the iron and steel ecosystem by developing greener factories and enterprises to deliver a cleaner, more sustainable steel industry. China Baowu looks forward to exploring low-carbon metallurgical innovation with Rio Tinto and Tsinghua University, and building a low-carbon industrial value chain. We hope to jointly address climate challenges with our partners, and create a model of harmonious coexistence between cities and steel mills."

Tsinghua University Vice President You Zheng said "Tsinghua is committed to providing solutions to climate change challenges and contributing wisdom to sustainable development. Initiating the Global Alliance of Universities on Climate is an important milestone, and just one example. The signing will enable us to work closely with the upstream and downstream of the steel industry value chain to jointly find the solution to the industry's low carbon transformation."

Latest News

Resilient financial results as Rio Tinto grows and diversifies

(Posted on 30/07/25)

Rio Tinto has announced a 6% production year-on-year uplift, thereby delivering on strategy through... Read more


K-SURE and Trafigura $200m financing agreement to support Korean shipping

(Posted on 30/07/25)

The Korea Trade Insurance Corporation (K-SURE) and Trafigura, a global leader in the commodities industry... Read more


BHP record copper and iron ore production drives strong 2025 performance

(Posted on 21/07/25)

BHP have released their Operational Review for the year ended 30 June 2025.BHP Chief Executive Officer... Read more


Dynamic Mining shipping arm and GeoServe’s one-year milestone

(Posted on 15/07/25)

A strategic collaboration between Icon Gulf Trading DMCC (part of the Dynamic Group) and GeoServe Energy... Read more


SSAB and Metal Solutions start partnership in fossil-free steel

(Posted on 15/07/25)

SSAB and Metal Solutions have entered a long-term partnership for the supply of decarbonized steel with... Read more


NGFA thanks lawmakers for including industry priorities in ‘One Big Beautiful Bill’

(Posted on 08/07/25)

The National Grain and Feed Association (NGFA) in the USA has applauded Congress for including a slate... Read more


Fertilizers Europe: Commission announcement on CBAM falls short

(Posted on 08/07/25)

Fertilizers Europe’s have released their reaction to the European Commission announcement on the... Read more


Bunge completes sale of its North America corn milling business

(Posted on 02/07/25)

Bunge Global SA has confirmed that it has completed the previously announced sale of its North America... Read more


SSAB secures additional EUR 430 million green financing for Luleå

(Posted on 02/07/25)

Following the successful debt raising at the end of April 2025, SSAB has secured an additional EUR 430... Read more


Soaring demand opens up investment opportunities across West Africa

(Posted on 25/06/25)

Despite China’s dominant position in securing commodities across Africa, there are still many... Read more


TBA GroupBühler GmbHGeneva DryTOC Americas 2025TOC Africa 2025Van Aalst
  • Vigan
  • TOC Americas 2025
  • Bühler GmbH
  • TOC Africa 2025

Subscribe to our newsletter

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