Japan-based Nippon Steel Corporation has announced that it has signed a memorandum of understanding with Australia-based miner Rio Tinto to jointly explore, develop and demonstrate technologies to transition to a low-carbon emission steel value chain.
The purpose of this memorandum of understanding is to explore a breadth of technologies for decarbonisation of the entire steel value chain from iron ore mining to steelmaking, including integrating Nippon Steel’s steelmaking technology and Rio Tinto’s iron ore processing technology to establish an innovative steel manufacturing process with low-carbon emissions.
“To further advance toward realizing our ambitious vision on decarbonisation, we began examining our carbon reduction scenarios that had set goals for 2030 and 2050,” Eiji Hashimoto, representative director and president of Nippon Steel Corporation, said.