Rio Tinto Will Cooperate With Baowu Steel Group And Invest $10 Million In Next Two Year For Low Carbon Steelmaking Project
According to unknow source, diversified mining company – Rio Tinto has promised to invest $10 million to start a research of low-carbon steelmaking project in China. And this company has also signed a similar investment MOU in Japan.
It is known that the investment from Rio Tinto comes after its cooperation with China Baowu and Tsinghua University, which was established in 2019. Their partnership aims at reduce the emission of carbon and develop a way to improve the value chain of steel on environment.
The investment of low-carbon steelmaking will be contributed to the Low-carbon Equipment Research and Development Center, which initially develop low-carbon ore preparation process as its priority. Besides, this investment will be used to support the carbon dioxide cycling and transforming purpose at Baowu’s Low-carbon Metallurgy Center. This center is a platform established by Baowu Steel Group, which focus on the push for the development of metallurgical technology and support the low-carbon transformation of steel sector.
The investment will push the technology going forward, and will be crucial for the reduction of carbon dioxide emission while manufacturing the steel. It will support the long-term and short-term goal on a carbon-free steel sector. As one of the largest steel manufacturers across the world, China Baowu Steel group takes a leading role in pushing the low-carbon steel solutions, and will be a strong support in China’s goal on achieving carbon neutrality before 2060.