Top rival miners team up for ‘green steel’ making in Australia
![Top rival miners team up for ‘green steel’ making in Australia](https://sustainabilityeconomicsnews.com/wp-content/uploads/2024/02/interior-view-steel-factory.jpg)
The world’s leading mining companies, BHP Group Ltd. and Rio Tinto Group, along with Australia’s BlueScope Steel Ltd., are coming together to develop Australia’s first electric-smelting furnace, potentially cutting emissions in steel production.
They plan to share internal data and research, launching a pre-feasibility study to pinpoint a location for a pilot facility, which could be operational by 2027.
The collaboration, announced at BlueScope’s Port Kembla steel mill near Sydney, addresses challenges for BHP and Rio, including commercializing lower-grade iron ore and meeting the rising demand for environmentally friendly metals amid global emission reduction efforts.
Rio Tinto Iron Ore Chief Executive Officer Simon Trott said in the statement, “The carbon intensity of iron and steelmaking requires profound change to meet the needs of our planet and our climate objectives.”
“We must find better ways to enable these materials to be made more sustainably through leveraging technology,” Trott added.
The project seeks to substitute emissions-heavy coking coal, traditionally vital in steel production, with renewable energy during the Direct Reduced Iron-process.
If successful, this initiative could set a precedent for global steel mills, including those in China, to adopt similar practices.
No announcements regarding financial details were disclosed.
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