British-Australian miner Rio Tinto has signed a memorandum of understanding (MOU) with Chinese steel producer, Shougang Group, to explore low-carbon solutions for the steel industry.
The two companies will promote the research, design and deployment of decarbonization tools for the steel value chain.
Under the MOU, Rio Tinto and Shougang will focus on blast furnace (BF) and oxygen basic furnace (BOF) optimization, low carbon sintering technology and capture and use of carbon (CCU).
“This partnership with Shougang underscores Rio Tinto’s strategic commitment to partnering with customers on steel decarbonization pathways and investing in technologies that could help reduce the carbon intensity of the steel industry.
Statement issued by Rio Tinto
Rio Tinto said in a statement: “This partnership with Shougang underscores Rio Tinto’s strategic commitment to partner with its customers on steel decarbonization pathways and to invest in technologies that have the potential to reduce carbon intensity of the steel industry”.
The partners will initially focus on BF slag heat recovery, BOF slag utilization, CCU and low carbon sintering technology.
According to a press release, the companies will use their respective capabilities in technologies, research and development, equipment, processes, logistics and industrial coordination to help reduce carbon emissions and the impacts of global climate change. .
The latest agreement builds on the nearly three-decade commercial and technical partnership relationship between Rio Tinto and Shougang.
“We are excited to be able to extend our partnership with Shougang to work together towards our shared vision of a ‘greener’ steel value chain.”
Alf Barrios, Commercial Director of Rio Tinto
Alf Barrios, Chief Commercial Officer of Rio Tinto, added: “We are delighted to be able to extend our partnership with Shougang to work together on our shared vision of a ‘greener’ steel value chain.
“Green and low-carbon transition and upgrading is the only path for high-quality and sustainable development of the steel industry.”
Wang Jianwei, Vice President of Shougang
Shougang Vice President Wang Jianwei 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 the Shougang Group and the Rio Tinto Group to develop generic low-carbon technologies for the steel sector and explore decarbonization solutions is a positive initiative for both parties to cooperate and promote the low-carbon technological innovation.”