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Rio Tinto, two others sign deal to explore low-carbon iron in Canada
Rio Tinto has agreed to explore production of a low-carbon steel feedstock in Canada, the global miner said on Tuesday, as part of its strategy to reduce carbon emissions.
The miner said it has signed a memorandum of understanding with Luxembourg-based engineering firm Paul Wurth S.A. and German steelmaker SHS-Stahl-Holding-Saar GmbH & Co. KGaA.
The companies will explore the viability of transforming iron ore pellets into low-carbon hot briquetted iron (HBI), a low-carbon steel feedstock, using green hydrogen generated from hydro-electricity in Canada, Rio said.
Iron Ore Company of Canada (IOC), in which Rio holds a majority stake, will supply high-grade iron ore for the project, with a feasibility study for potential industrial scale low-carbon iron production scheduled to be completed in late 2021.
Rio Tinto, Paul Wurth S.A. and SHS-Stahl-Holding-Saar GmbH & Co. KGaA (SHS) have signed a Memorandum of Understanding to explore the viability of transforming iron ore pellets into low-carbon hot briquetted iron (HBI) (a form of Direct Reduced Iron, DRI), a steel feedstock (earlier post) using green hydrogen generated from.