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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Rio Tinto Plc | LSE:RIO | London | Ordinary Share | GB0007188757 | ORD 10P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 74.00 | 1.38% | 5,453.00 | 5,449.00 | 5,451.00 | 5,504.00 | 5,444.00 | 5,462.00 | 2,288,057 | 16:35:01 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Miscellaneous Metal Ores,nec | 54.86B | 10.06B | 6.1815 | 8.82 | 88.68B |
From Apr 2022 to Apr 2024
By Rhiannon Hoyle
Rio Tinto PLC said it plans to develop a larger-scale pilot plant for low-carbon iron-making after a small facility in Germany proved a process to use raw biomass instead of metallurgical coal was effective.
Rio Tinto, the world's largest iron-ore miner, has been testing the process in Germany over the past 18 months with Finland-based sustainable technology company Metso Outotec and the University of Nottingham.
The process uses raw biomass instead of coal as a reductant and microwave energy to convert iron ore from Rio Tinto's Australian mines to metallic iron for steel, and could potentially support near-zero carbon emissions in steelmaking, Rio Tinto said.
"The results from this initial testing phase show great promise," said Chief Commercial Officer Alf Barrios.
The company is currently designing the larger plant and considering possible locations for its construction.
The steel industry accounts for 8% of global carbon emissions and 66% of Rio Tinto's so-called Scope 3 emissions, pollution mostly created when customers use its commodities.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
(END) Dow Jones Newswires
November 22, 2022 17:46 ET (22:46 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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