Australia-based miner Rio Tinto has announced that it has signed a multi-year supply agreement with Sweden-based H2 Green Steel to accelerate the transition to green steelmaking.
According to the agreement, Rio Tinto will supply high-grade direct reduction iron ore pellets from its joint venture Iron Ore Company of Canada (IOC) to H2 Green Steel, while it will purchase and on-sell a part of the surplus low-carbon hot briquetted iron (HBI) produced by H2 Green Steel.
IOC’s direct reduction pellets will account for a significant part of the iron ore supply to H2 Green Steel’s Boden plant in Sweden, which is expected to start operations in 2025.
