Rio Tinto and China Baowu agree on green steel production in China and Australia
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The world’s leading steel and iron ore producers, China Baowu and Rio Tinto, have signed memorandumwhich includes the development of several projects in China and Australia, which should help make the steel industry carbon-free.
For example, the parties intend to install an electric smelter at one of the Baowu steel mills in China, which will allow the production of direct reduced iron (DRI) steel using low and medium grade ores. In addition, the parties want to expand the development of China Baowu’s HyCROF technology, which can greatly reduce CO2 emissions from blast furnace smelting.
The focus of projects on lower quality ores is that their use usually involves an increase in emissions, since more rock must be processed to obtain the same amount of ore. Therefore, they are usually not used for the production of DRI. Steel with direct reduction of iron can be smelted using natural gas rather than coal as an energy source, which is considered as one of the ways to reduce harmful emissions into the atmosphere from the steel industry. Now, according to the World Steel Association, steel production accounts for up to 9% of global emissions.
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