BHP, Rio Tinto to build low-carbon iron pilot plant in Western Australia
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 17 2024
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Source: Reuters
Joint Development of Low-Carbon Iron Plant: BHP and Rio Tinto are collaborating to develop a pilot plant in Western Australia that will produce low-carbon iron using renewable energy and DRI technology, with an expected output of 30,000 to 40,000 tonnes annually.
Impact on Steel Industry Emissions: The project, named 'NeoSmelt', aims to significantly reduce greenhouse gas emissions from steel production, which currently accounts for about 8% of global carbon emissions, with operations planned to start by 2028.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
