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Rio Tinto, Nippon Steel Sign Climate MOU Seeking Low-carbon Emission Steel Value Chain

Mining and metals company Rio Tinto Plc. (RTPPF.PK,RIO.L,RIO,RTNTF.PK) said it has signed a Memorandum of Understanding or MoU with Japanese steel producer Nippon Steel Corp. to jointly explore, develop and demonstrate technologies to transition to a low-carbon emission steel value chain.

The companies expect to support their shared goal of significantly reducing carbon emissions across the entire steel value chain.

The intent of the partnership is in line with Japan's recently announced climate ambition to realise a carbon-neutral society by 2050.

Under the partnership, the companies would explore technologies for decarbonisation of the entire steel value chain from iron ore mining to steelmaking. This includes integrating Rio Tinto's iron ore processing technology and Nippon Steel's steelmaking technology to establish an innovative steel manufacturing process with low carbon emissions.

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