Rio Tinto announced the signing of a Memorandum of Understanding (MoU) with Shougang Group, one of the world’s top ten steel producers.
In a statement, Rio Tinto said the MoU aims to further the study, design, and utilisation of low-carbon solutions for the steel value chain.
The MoU focuses on low-carbon sintering technology, blast furnace (BF) and basic oxygen furnace (BOF) optimisation, and carbon capture and utilisation (CCU).
According to Rio Tinto, the partnership underlines its strategic commitment to working with clients on steel decarbonisation pathways and investing in technology that potentially reduces steelmaking carbon intensity.
The initial focus will be on low-carbon sintering technology, BF slag heat recovery, BOF slag utilisation, and CCU, among other things.
The MoU strengthens Rio Tinto and Shougang’s partnership as trading and technical partners for almost 30 years. Together, the two businesses will use their advantages in research and development, technologies, equipment, processes, logistics, and industry coordination to further their shared goals of mitigating the effects of climate change and cutting carbon emissions.
Rio Tinto Chief Commercial Officer Alf Barrios said steel is a critical 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,” Barrios stated.
Shougang Group Vice President Wang Jianwei said the only way to a high-quality and sustainable development of the steel industry is through green and low-carbon transition and upgrading.
“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,” he added.
According to the World Steel Association, BF-BOF production accounts for over 70 per cent of all steel produced globally.
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