Australian iron ore miner Fortescue Metals Group has announced that it has signed a memorandum of understanding with Chinese steel producer Baowu Steel Group to work together on reducing emissions from iron and steel production.
The companies will explore lower-emissions iron making technology at one of Baowu’s plants using Fortescue’s iron ore and green hydrogen.
“We firmly believe that collaboration and partnerships such as this will be integral to developing the technologies required to deliver on our ambitious target of net zero Scope 3 emissions by 2040,” Fortescue CEO Fiona Hick said.
In addition, Baowu also signed a memorandum of understanding with Australia-based miner Rio Tinto to advance decarbonization projects, as SteelOrbis previously reported.
