Anglo American PLC said on Tuesday it signed a memorandum of understanding with Swedish hydrogen and steel producer, H2 Green Steel.
The London-based miner of diamonds, copper, nickel and iron ore said it is collaborating with H2 Green Steel to advance the process of low carbon steelmaking.
The agreement includes studying and trialling the use of premium quality iron ore products from Anglo American’s South African Kumba mine and its Minas Rio mine in Brazil.
The iron ore would be used as feedstock for H2 Green Steel’s direct reduced iron production process at its Boden plant in Sweden, Anglo American said.
The plant, which produces green steel, reduces carbon emissions by up to 95% compared to traditional steelmaking.
This agreement is part of Anglo American’s attempt to cut its carbon emissions in half by 2040.
Chief Executive Officer Peter Whitcutt of Anglo American’s marketing business said: ‘Collaboration with industry leaders who share a vision for decarbonised steelmaking is central to our commitment to reduce emissions in our value chains.’
Shares in Anglo American were down 0.2% at 2,674.00 pence in London on Tuesday morning.
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