Australia’s Fortescue has signed a memorandum of understanding with Baowu Resources, a wholly-owned subsidiary of China Baowu Steel Group, to address challenges in decarbonising the global steel industry, reported Reuters.
“We are committed to building a green iron supply chain,” said Fortescue COO Shelley Robertson.
“The partnership with China Baowu will help further accelerate the development of green iron technology and ensure that we will be able to meet growing demand for green iron in and outside China.”
Fortescue’s green iron project at its Christmas Creek operations in Western Australia is underway and set to produce more than 1,500 metric tons of green iron annually, with first production expected in 2025. The company also aims to make all its iron ore products green by 2030.
Source: Reuters