BHP Billiton signs MoU with China Baowu to cut emissions

Monday, 09 November 2020 17:53:25 (GMT+3)   |   Istanbul

Australian miner BHP Billiton announced that it has signed a memorandum of understanding (MoU) with Chinese steel giant China Baowu Group to invest $35 million and share technical knowledge with the aim of reducing greenhouse gas emissions.

The five-year partnership, which will be funded under BHP’s $400 million Climate Investment Program, will focus on the development of low carbon technologies such as hydrogen injection in blast furnaces, and pathways capable of emissions reduction in integrated steelmaking. Under the MOU, the deployment of carbon capture, utilization and storage in the steel sector will also be investigated at one of China Baowu’s production bases.

“This MOU further strengthens our long-standing relationship with China Baowu and reflects our joint determination and commitment to help reduce emissions in line with the Paris Agreement goals,” Mike Henry, CEO of BHP, said. He also stated that the company will invest in supporting the development of low emission technologies, promote product stewardship and partner with others to enhance the global policy and market response to climate change.

According to the company’s statement, both companies will work together to establish a China Baowu-BHP Low Carbon Metallurgy Knowledge Sharing Center, to link complementary research and share low carbon and green development knowledge with domestic and international steel industry stakeholders.

BHP Billiton aims to reduce carbon emissions by 30 percent by 2030 and achieve net zero operational emissions by 2050, as SteelOrbis previously reported.

Most Recent Related Articles

BlueScope optimistic as demand recovery outpaces expectations

Fortescue signs iron ore supply deals with Chinese firms

Liberty Steel to install two hybrid furnaces at Ostrava

Reserve Bank of Australia expects iron ore exports to remain strong

Nippon Steel to expand electrical steel sheet facilities