Fortescue, one of the world’s largest and lowest cost iron ore miners, has entered into a Memorandum of Understanding (MoU) with China Baowu Steel Group Corporation to work together on reducing emissions associated with iron and steel making.
This collaboration will explore lower emissions iron making technology at one of China Baowu’s operations in China using Fortescue iron ore and green hydrogen, iron ore beneficiation research and development and collaboration opportunities in renewable energy and green hydrogen.
Fortescue is one of the world’s lowest cost iron ore producers, shipping at an annual rate of over 180 mln tons. More than 1.7 bln tons of iron ore have been delivered to Fortescue’s customers since 2008.
China Baowu Steel Group Corporation is the world’s largest steel enterprise, producing 132 mln tons of steel in 2022.
