Rio Tinto and Shougang Group to explore steel decarbonisation solutions
September 22 2022 - 2:02AM
Business Wire
Rio Tinto and Shougang Group, one of the world’s top 10 steel
producers, have signed a Memorandum of Understanding (MoU) to
promote research, design and implementation of low-carbon solutions
for the steel value chain. The MoU’s focus areas include low-carbon
sintering technology, blast furnace (BF) and basic oxygen furnace
(BOF) optimisation, and carbon capture and utilisation (CCU).
This partnership with Shougang underlines Rio Tinto’s strategic
commitment to partner with customers on steel decarbonisation
pathways and to invest in technologies that could deliver
reductions in steelmaking carbon intensity.
Initial efforts will be focused on, but not limited to, BF slag
heat recovery, BOF slag utilisation, CCU and low-carbon sintering
technology.
The MoU builds on the nearly 30-year relationship between Rio
Tinto and Shougang as trade and technical partners. The two
companies will work together, leveraging their respective strengths
in research and development, technologies, processes, equipment,
logistics and industry coordination to support their shared
objectives of limiting the impacts of global climate change and
reducing carbon emissions.
Rio Tinto Chief Commercial Officer Alf Barrios said “Steel is a
vital material for economic growth and low-carbon infrastructure.
At Rio Tinto, we want to play a strong role as an industry partner
to support the decarbonisation of steel. We are delighted to be
able to extend our partnership with Shougang to jointly work
towards our shared vision of a ‘greener’ steel value chain.”
Wang Jianwei, Vice President of Shougang Group, said, “Green and
low-carbon transition and upgrading is the only way for
high-quality and sustainable development of the steel industry. The
cooperation between Shougang Group and Rio Tinto Group to develop
low-carbon generic technologies for the steel sector and explore
decarbonization solutions is a positive move for both sides to
cooperate and promote low-carbon technology innovation.”
Around 70 percent of global steel is produced using the BF-BOF
route, according to the World Steel Association1.
____________________ 1
https://worldsteel.org/about-steel/about-steel/
Notes to editors
Rio Tinto
Rio Tinto is a mining and metals company operating in 35
countries. As set out in Rio Tinto’s Climate Action Plan, approved
by shareholders in the 2022 AGMs, we aim to reduce Scope 1 & 2
carbon emissions by 15 per cent by 2025, and by 50 per cent by
2030. These targets are expected to be supported by around $7.5
billion of direct investments to lower emissions between 2022 and
2030. Working in partnership with governments, suppliers,
customers, academia and others, Rio Tinto will continue to develop
technologies and explore multiple pathways to produce green
steel.
In 2022, Rio Tinto committed to engaging with all its direct
iron ore customers, representing approximately 75 percent of its
iron ore sales and related Scope 3 emissions, to share information
on respective climate change goals and roadmaps, and actively seek
areas of mutual collaboration on pathways to net zero.
Shougang Group
Founded in 1919, Shougang Group is one of China’s oldest
industrial enterprises. In China’s 14th Five-Year Plan period
(2021-2025), Shougang has committed to accelerating the adoption of
innovative solutions to contributing to China’s duo carbon goals.
The company has identified four areas of focus, including process
optimisation and energy efficiency improvement, clean energy and
CCUS technology development, recycling and green product
development, and low-carbon cross-sector partnership
development.
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