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

SSAB delivers decarbonised steel to Vattenfall’s solar park project in Germany

SSAB is supplying decarbonised steel to Vattenfall for the construction of the ground-mounted solar... Read more

NGFA statement on STB’s decision to conditionally accept rail merger application

In accordance with the Surface Transportation Board’s merger rules, the Board has conditionally... Read more

EU feed production market forecast highlights continued stability

FEFAC market experts are forecasting continued stability in the EU compound feed production market for... Read more

Fertilizer Action Plan: recognition must now translate into delivery

Fertilizers Europe has acknowledged the European Commission’s Fertilizer Action Plan, which recognises... Read more

Tripartite MOU to establish direct U.S.–DRC cobalt supply chain

Entreprise Générale du Cobalt, EVelution Energy LLC and Trafigura Pte Ltd. has announced... Read more

Commissioning of Oxelösund electric arc furnace delayed due to permitting

SSAB’s conversion of the mill in Oxelösund to fossil-free production is being delayed due... Read more

YEC agreement supports decarbonisation of Rio Tinto’s Pilbara iron ore operations

Yindjibarndi Energy Corporation (YEC), one of Australia’s largest Indigenous-led renewable energy... Read more

ASA Vice President urges caution in USTR Section 301 investigation

Soybean farmers are already facing significant economic headwinds and new trade actions could add further... Read more

ADM investment to upgrade Clinton, Iowa, corn processing facility

ADM, a global leader in innovative solutions from nature, has announced a multimillion-dollar investment... Read more

JV in Bayuquan, China to strengthen global raw material supply chains

CREMER ERZKONTOR GmbH has announced the official opening of its joint venture, CREMER (Yingkou) Supply... Read more