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

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