Rio Tinto, China's Shougang Group to jointly explore steel decarbonization solutions

SYDNEY, Sept. 22 (Xinhua) -- Mining group Rio Tinto announced on Thursday that it has signed a memorandum of understanding (MoU) with China's major steel producer Shougang Group 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 and basic oxygen furnace optimization, and carbon capture and utilization.

Deputy General Manager of Shougang Group Wang Jianwei said the cooperation between the two companies 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.

Initial efforts will be focused on, but not limited to, blast furnace slag heat recovery, basic oxygen furnace slag utilization, carbon capture and utilization and low-carbon sintering technology, according to the mining giant.

"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," read the statement from Rio Tinto.

Rio Tinto, in its climate action plan, pledged to reduce scope 1 and 2 carbon emissions by 15 percent by 2025, and by 50 percent by 2030.

Shougang Group also carries out energy conservation and carbon reduction work, and continuously promotes the green and low-carbon development of its enterprises.

Rio Tinto Chief Commercial Officer Alf Barrios said Rio Tinto wants 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."