Published by Todd Bush on September 23, 2022
MELBOURNE, Australia--(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) optimization, and carbon capture and utilization (CCU).
>> In Other News: H2 Green Steel Cooperates With Greeniron H2 for Recycling of Iron Residual and Waste
This partnership with Shougang underlines Rio Tinto’s strategic commitment to partner with customers on steel decarbonization 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 utilization, 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 decarbonization 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 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.
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.
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue 🛢️ Texas Emerges as Blue Ammonia Capital in $5B Investment Wave 🤝 Technip Energies and Shell Catalysts & Technologies Have Signed a Global Alliance Agreement for Carbon Captu...
Inside This Issue 💰 Industrial Giants Are Sitting on a $200 Billion Energy Goldmine 🗺️ New Reports Map BC’s Hydrogen Potential for Clean Energy Growth 🍁 Federal Government Spending Nearly $16M on ...
Inside This Issue 🛫 XCF Global Outlines Plan to Build Multiple SAF Production Facilities and Invest Nearly $1 Billion in Renewable Fuel Production Capacity by 2028 ⚓ Backgrounder: Government of Ca...
Technip Energies (PARIS:TE) and Shell Catalysts & Technologies have signed their global alliance agreement to work exclusively together to deliver a post-combustion amine-based carbon capture s...
National Carbon Capture Center Launches Novel UNOGAS MK3 Solvent Testing
A significant step forward in carbon capture is underway at the National Carbon Capture Center (NCCC), where KC8 Capture Technologies’ (KC8) advanced UNOGAS system – featuring the innovative UNO MK...
SYSADVANCE North America Secures 2 Additional Contracts for Landfill Gas Upgrading Systems
SYSADVANCE North America has been selected to supply landfill gas upgrading solutions for projects in Lincoln, Nebraska, and Waco, Texas. The METHAGEN LF 3000F and METHAGEN LF 1800F systems were se...
ST. CLOUD, Minn., July 17, 2025 (GLOBE NEWSWIRE) -- NFI Group Inc. (TSX: NFI, OTC: NFYEF, TSX: NFI.DB), a leader in propulsion-agnostic bus and coach mobility solutions, subsidiary New Flyer of Ame...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.