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RIO Rio Tinto Plc

5,017.00
39.00 (0.78%)
28 Mar 2024 - Closed
Delayed by 15 minutes
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
  39.00 0.78% 5,017.00 5,019.00 5,020.00 5,050.00 4,980.50 5,016.00 3,147,491 16:35:22
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Miscellaneous Metal Ores,nec 54.86B 10.06B 6.1815 8.12 81.65B

Salzgitter, Rio Tinto Sign Agreement to Develop Low-Carbon Steel

07/06/2022 11:20am

Dow Jones News


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By Pierre Bertrand

 

Salzgitter AG and Rio Tinto Ltd said Tuesday that they have signed an agreement to collaborate on reducing the amount of carbon emitted when making steel.

Under the memorandum of understanding signed, the two companies will study technical aspects of steelmaking with the use of hydrogen, the companies said.

The agreement focuses on the Australian mining company's iron ore products and their use in a virtually carbon-free steel production process being designed by Salzgitter.

The new hydrogen-powered steelmaking program is intended to gradually replace the German company's carbon-based blast furnaces and reduce CO2 emissions by 95% by 2033.

Included in the agreement is the expansion of supply chains and, potentially, obtaining certification of their greenhouse gas emissions levels, the companies said.

This agreement follows a similar cooperation deal struck last week between Salzgitter and Swedish miner Luossavaara Kiirunavaara AB to help implement Salzgitter's hydrogen-powered steelmaking program.

 

Write to Pierre Bertrand at pierre.bertrand@wsj.com

 

(END) Dow Jones Newswires

June 07, 2022 06:05 ET (10:05 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

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