Rio Tinto to Invest USD 7.5 Billion in Order to Halve Harmful Gas Emissions by 2030

Rio Tinto has launched a plan for an investment of USD 7.5 billion in business activities which aim to reduce carbon emissions 50% by 2030. Steel and iron ore producers are looking to reduce carbon emissions in line with the global climate obligations until 2050, and Rio Tinto is aiming to halve its volume of direct and certain kinds of indirect gas emissions by the end of the decade.

A 15% reduction in emissions is now targeted for 2025, five years earlier than previously, the press release says.

– In order to achieve this goal, Rio Tinto will increase its power from renewable energy sources and set aside more funds for research and development on the path toward decarbonization. That is a great step forward and the future for Rio Tinto. We have a clear pathway to decarbonize our business and are actively developing technologies that will enable our customers and our customers’ customers to decarbonize – Rio Tinto Chief Executive Jakob Stausholm said.

Rio Tinto will continue to develop technologies like ELYSISTM for carbon-free aluminum and multiple pathways to produce green steel. Rio Tinto also plans to install 1 GW of solar and wind power, intending to replace the production of energy from gas. Also, options are progressing to switch the Boyne Island and Tomago smelters in Australia to renewable energy, which will require an estimated ~5GW (equity basis) of solar and wind power, along with a robust firming solution.

Rio Tinto also continues testing a new technology that would use biomass instead of coking coal in the steelmaking process to the end of reducing industrial coal emissions.

Rio Sava Exploration d.o.o. Beograd

Rio Tinto Exploration Dunav d.o.o. Beograd

Rio Tinto

Jakob Stausholm

production of green steel

biomass

coking coal

reduction of carbon emissions

ELYSISTM