China Baowu and Rio Tinto sign Memorandum of Understanding on steelmaking decarbonisation

China Baowu Steel Group/Zhanjiang Hydrogen Furnace

China Baowu and Rio Tinto agreed to collaborate on decarbonising the steel value chain, focusing on hydrogen-based direct reduction. The partnership leveraged over 50 years of mineral supply relationships to develop commercially viable low-carbon steelmaking processes.