Russian steelmaker Magnitogorsk Iron and Steel Works (MMK) has announced that it has obtained approval for two new joint implementation projects under the Kyoto Protocol.
Accordingly, it will introduce electric arc furnace (EAF) production of slab steel and will upgrade agglomerate production and load-feeding at its blast furnaces. EAF production will reduce CO2 emissions by 1.2 million tons in 2008-2012, while the upgrading of agglomerate production and load-feeding will reduce greenhouse gas output by a further 600,000 mt over the same period.
MMK expects that implementation of these projects will significantly reduce its environmental footprint, with CO2 emissions set to decline by 7 million metric tons over 2008-2012. The company also stated that it will reinvest all the revenue from joint implementation projects into green production.