Iron ore leader Rio Tinto has signed a pact with the world’s biggest steelmaker as investors demand ways to curb the climate impact of the steel and mining industries.
Under the memorandum of understanding signed with China Baowu in Shanghai, the two companies pledged to play a leading role in transforming one of the world’s most emissions-intensive products.
Rio Tinto chief commercial officer Alf Barrios said the agreement aims to address one of the biggest challenges faced by the industry.
That is, developing low-carbon processes for low-to-medium grade iron ores, which account for the vast majority of global iron ore supply….