LONDON–(BUSINESS WIRE)–Rio Tinto has entered into definitive agreements with GravitHy, an early-stage industrial company, to help accelerate GravitHy’s steel decarbonisation project in France. As part of this collaboration, Rio Tinto (NYSE:) will supply high-grade direct reduction iron ore pellets from its Company of Canada (IOC) operations to GravitHy’s planned operation, as well as manage the sales and marketing of ultra-low carbon Hot Briquetted Iron (HBI) GravitHy produces.
GravitHy’s proposed two million tonnes per year iron production facility at Fos-sur-Mer, France, is planned to be commissioned in 2028. The facility, which is located next to a deep seaport, will feature ultra-low carbon hydrogen production infrastructure, powered by existing grid-connected nuclear power, to process direct reduction pellets into HBI. This process has the potential to reduce ironmaking-related CO2 emissions by more than 90%.
Steel produced with low-carbon emissions is an essential component of the net-zero energy transition. The production of iron and steel contributes around 8% of global carbon emissions and requires new technologies, redesigned processes, and new infrastructure to decarbonise.
GravitHy Chief Executive Officer José Noldin said: We are developing one of the most advanced ultra-low-carbon iron projects worldwide, designated by the French government as an ˜Industrial Project of Major National Interest’. By combining our business ambitions, agility, and technological capabilities with Rio Tinto’s global leadership in mining and steel decarbonisation, we are ensuring a solid sourcing and go-to-market strategy to help accelerate the development of this project.
Rio Tinto Head of Steel Decarbonisation Simon Farry said: This collaboration is aligned with Rio Tinto’s steel decarbonisation strategy to accelerate the development of low-carbon Electric Arc Furnace steelmaking with high-grade iron as feedstock. This will allow us to both reduce our Scope 3 emissions and create valuable decarbonised pathways for our high-grade iron ore. We are excited to support GravitHy’s project and expand our understanding of the emerging green iron and steel market.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241114512120/en/
Please direct all enquiries to media.enquiries@riotinto.com
Media Relations, United Kingdom (TADAWUL:)
Matthew Klar
M +44 7796 630 637
David Outhwaite
M +44 7787 597 493
Media Relations, Australia
Matt…
Click Here to Read the Full Original Article at All News…
