STEEL INDUSTRY AND TRADE

Microwave the way for Rio Tinto to go low-carbon

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Original article by Peter Ker
The Australian Financial Review – Page: 19 : 5-Jun-24

Rio Tinto will invest $215m in a microwave facility at its BioIron project in Western Australia. The plant is slated to produce one tonne of direct reduced iron per hour, and is part of the resources group’s push to reduce the carbon-intensity of steel-making. The BioIron plant will use microwave technology rather than traditional blast furnaces to produce steel, using a combination of Pilbara iron ore and biomass waste. Rio Tinto executive Simon Trott says the plant has been specifically designed for Pilbara iron ores.

CORPORATES
RIO TINTO LIMITED – ASX RIO

Two of world’s biggest mining companies join forces to make unprecedented change in steel production: We must find better ways

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Original article by Jeremiah Budin
The Cool Down – Page: Online : 16-Apr-24

Iron ore rivals BHP and Rio Tinto are collaborating on the development of an electric smelting furnace in Australia. They contend that the technology could reduce the carbon dioxide pollution intensity of steel-making by 80 per cent compared with standard blast furnaces. Steel is one of the world’s most widely-used construction materials, but current production methods generate massive amounts of greenhouse gases. The International Energy Agency has warned that the steel industry is currently not on track to meet the net-zero emissions target of 2050.

CORPORATES
BHP GROUP LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, INTERNATIONAL ENERGY AGENCY

Rio bows to pressure on green steel spending

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Original article by Brad Thompson
The Australian Financial Review – Page: 16 : 20-Mar-24

Iron ore accounted for nearly 70 per cent of Rio Tinto’s total scope 3 emissions of 578 million tonnes in 2023. The resources group has advised that it will provide increased disclosure of its expenditure on initiatives aimed at reducing scope 3 emissions, including ‘green’ steel projects. Rio Tinto has been under growing pressure from groups such as Fidelity International and the Australian Council of Superannuation Investors to improve its disclosures. Daniela Jaramillo from Fidelity says this has been a priority in talks with Rio in recent years.

CORPORATES
RIO TINTO LIMITED – ASX RIO, FIDELITY INTERNATIONAL PTY LTD, AUSTRALIAN COUNCIL OF SUPERANNUATION INVESTORS INCORPORATED

Fortescue sets ambitious new hydrogen goals

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Original article by Nick Evans
The Australian – Page: 16 : 6-Oct-21

Iron ore miner Fortescue Metals Group has set a net-zero target date of 2040 for its scope 3 emissions. Fortescue’s plans to become a major player in the global hydrogen industry will be central to achieving the ambitious target. Buyers of Fortescue’s iron ore account for about 98 per cent of the group’s scope 3 emissions; this equates to around 246.1 million tonnes of carbon dioxide equivalent in 2020-21. Fortescue has also set a target of 2030 for its mining operations to become carbon-neutral, while it has outlined plans to decarbonise its fleet of ore carriers.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG