Australia-based miner Rio Tinto has announced that it has signed a memorandum of understanding with major Chinese steel producer Baowu Steel Group to advance decarbonization projects in both Australia and China with the aim to decarbonize the steel value chain.
The projects will include building an electric melter at one of Baowu’s steel plants in China, expanding the development of Baowu’s HyCROF technology, which can reduce carbon emissions from the blast furnace process, optimizing pelletization technology for Australian ores, and examining opportunities for producing low-carbon iron in Western Australia.