Steel News

Rio Tinto, Shougang Group Sign Decarbonization MoU

9/27/2022 - Iron ore miner Rio Tinto and China’s Shougang Group have shaken hands on a new memorandum of understanding (MoU) intended to further development of decarbonization solutions for the steel industry.

According to an official press release, the two companies will collaborate on research and development related to blast furnace slag heat recovery, basic oxygen furnace slag utilization, carbon capture and utilization (CCU), and low-carbon sintering technology, among other projects.

“Green and low-carbon transition and upgrading is the only way for high-quality and sustainable development of the steel industry,” commented Shougang Group vice president Wang Jianwei. “The cooperation between Shougang Group and Rio Tinto Group … is a positive move for both sides to cooperate and promote low-carbon technology innovation.”

“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,” said Alf Barrios, chief commercial officer for Rio Tinto.

Read the full press release here.