9,347.17 TL BIST 100 BIST 100
31.06 $ USD USD
€33.62 EUR EUR
43.42 TL Interest Interest
83.25 $ Fossil Oil Fossil Oil
22.62 $ Silver Silver
3.88 $ Copper Copper
121.11 $ Iron Ore Iron Ore
394.00 $ Ship Dismantling Ship Dismantling
2,023.50 TL Gold (gr) Gold (gr)

Mitsui Co. and Rio Tinto accelerate efforts to decarbonize the raw material supply chain

Japanese trading company Mitsui & Co. and Anglo-Australian miner Rio Tinto have teamed up to accelerate the decarbonisation of the raw materials supply chain as downstream industries come under pressure from end users, investors and governments.

Mitsui Co. and Rio Tinto accelerate efforts to decarbonize the raw material supply chain

In December, the partners signed a Memorandum of Understanding to work together to reduce carbon emissions in steelmaking, supply ammonia and hydrogen to Rio Tinto, develop new forms of renewable energy and take other steps towards a sustainable future.

The mining giant aims to halve its carbon emissions from 2018 levels by 2030 and reach net zero emissions by 2050. In an interview with Nikkei Asia in September, CEO Jakob Stausholm reported that addressing climate change is central to the company's future.

One of the key areas is the production of iron and steel. Rio Tinto accounts for approximately 20% of the global seaborne iron ore trade. Their customers and end-users, such as steel mills and vehicle manufacturers, are now facing increasing pressure from investors and governments to decarbonize.

In a recent move, the European Union reached an agreement in December on the Carbon Border Adjustment Mechanism (CBAM), which imposes a carbon tax on goods exported from energy-intensive industries to the European bloc. Collaboration beyond industries is becoming more important for companies to compete in global markets.


No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Billet prices react to changing demand in Türkiye, Russia and Ukraine

Sunday, February 25, 2024

Metinvest's 2023 steel production declined

Sunday, February 25, 2024

Minister Özhaseki warns about "carbon footprint"

Sunday, February 25, 2024

Japan to provide $4.86 billion in incentives for chip

Sunday, February 25, 2024

Uncertainty prevails in the East Asian steel market

Saturday, February 24, 2024
Follow List
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.

There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now