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China to develop ‘national team’ of state-owned giants, but efficiency concerns linger Frank Tang frank.tang@scmp.com The combined assets of China’s 97 central government-owned enterprises are expected to reach 69 trillion yuan (US$10.5 trillion) in 2020. Photo: Xinhua Chen Derong, the chairman of China Baowu Steel Group, broke into tears last week as he announced the company had produced a record 100 million tonnes of steel this year. It was a "dream come true," Chen said, as the Shanghai-based mill surpassed ArcelorMittal, an Indian-Luxembourg multinational, to become...

Rio to invest $10m in low-carbon steelmaking projects Steelmaking process. Rio Tinto (ASX, LON: RIO) committed with the world’s largest steel producer, China Baowu Steel Group, to invest $10 million over the next two years in low-carbon steelmaking projects and research. In a press release, the mining giant said its investment will fund the joint establishment of a Low Carbon Raw Materials Preparation R&D Centre, which will initially prioritize the development of lower-carbon ore preparation processes. Sign Up for the Suppliers Digest Sign Up “This will include creating two ore preparati...

Posted on 7831 Rio Tinto has committed to invest $10 million with the world’s largest steel producer China Baowu Steel Group over the next two years in low-carbon steelmaking projects and research. This investment is the next step in advancing the partnership formed between Rio Tinto, China Baowu and Tsinghua University in 2019 to develop and implement new methods to reduce carbon emissions and improve environmental performance across the steel value chain. Rio Tinto’s investment will fund the joint establishment of a Low Carbo...