Australian
iron ore giant Fortescue Metals Group has signed up one of the world’s largest
steel makers to its mission to decarbonise metals production, including through
the use of green hydrogen – the pet project of FMG’s billionaire founder Andrew
Forrest.
Fortescue
said on Tuesday it has signed a Memorandum of Understanding with China Baowu
Steel Group Corporation – Fortescue’s biggest customer – to collaborate on ways
to cut emissions from iron and steel making.
The
collaboration will trial technologies at one of China Baowu’s home turf
operations, using Fortescue iron ore and green hydrogen.
The pair
also plans to collaborate on iron ore beneficiation research and development –
ways to improve the chemical, physical and metallurgical characteristics of ore
to make steel making more efficient – and on other opportunities in renewable
energy and green hydrogen.
“Fortescue
is exploring a range of options to reduce emissions in the steel value chain
including through partnerships with suppliers, customers and research
institutes,” said FMG ch