RIO & BHP to Build Electric Smelting Furnace Plant to Lower Emissions [Yahoo! Finance]
BHP Group Limited American Depositary Shares (Each representing two Ordinary Shares) (BHP)
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Source: Yahoo! Finance
Rio Tinto RIO has joined forces with BHP Group BHP and BlueScope to develop Australia's largest ironmaking electric smelting furnace (ESF) pilot plant in Western Australia. The BHP-RIO alliance will work on processing iron sourced from Pilbara using an electric furnace replacing traditional blast furnaces. This could lead the way in decarbonizing the steelmaking process, which is the need of the hour considering that steel production accounts for around 8% of the world's carbon emissions. Details of RIO & BHP's Groundbreaking Project RIO, BHP and Bluescope, Australia's largest steelmaker, formed the NeoSmelt collaboration in February. This combined BHP and Rio Tinto's knowledge of Pilbara iron ore with BlueScope's unique operating experience in ESF technology. BlueScope is the operator of the world's only ESF processing direct reduced iron (DRI) in New Zealand. Woodside Energy will also join as an equal equity participant and energy supplier, subject to the finalization of co
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