Company: RTNTF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001628280-25-006642
Chunk: 114

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 114
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2035 relative to 20222.–Commission the Biolron™ pilot plantby 20262.–Commission a shaft furnace (DRI) +Electric Smelting Furnace (ESF) pilotplant by 2026, in partnership with asteelmaker.–Finalise study on a beneficiation pilotplant in the Pilbara by 2026. |

Steel is one of the most cost-efficient construction materials and is essential in low- carbon infrastructure, transportation and buildings. With approximately 2 billion tonnes of crude steel produced globally in 2024, the industry overall emits over 3.5 billion tonnes of CO 2 e annually, equivalent to around 8% of global carbon emissions. As one of the world’s largest iron ore producers, we have a key role to play in decarbonising the steel value chain. We aim to accelerate the development and adoption of low-carbon emissions technologies that both reduce our Scope 3 emissions and future-proof our iron ore business. Our approach is built on a platform of collaboration across the value chain. We are partnering with over 40 partners in about 10 countries to build a portfolio of options, from iron ore processing to iron and steelmaking. We prioritise our project portfolio based on parameters such as ore suitability, technical and commercial feasibility, and emissions abatement potential, to ensure a disciplined approach to investing capital and effort. Our strategy is framed under 3 pathways across different time horizons: 1. Existing pathways We are actively working with our customers to help reduce their carbon emissions from the current blast furnace (BF) process. Our initiatives include optimising BF burden, improving energy efficiency, BF slag optimisation, and carbon capture, utilisation and storage (CCUS). 2. Emerging pathways We are supporting early development and proliferation of emerging low-carbon DRI projects that use high-grade iron ores, such as those we produce at IOC, and, in the future, Simandou. We are committed to supporting these low-carbon projects that may otherwise face significant headwinds. Our approach includes bringing together the right group of partners, supplying high-grade ore, bringing our technical and sales and marketing expertise, and investing in early- stage projects. In November 2024, we entered agreements with GravitHy – an industrial start up establishing 2 Mtpa production of ultra-low- carbon DRI in Fos-sur-Mer, France. GravitHy’s hydrogen-based DRI plant is expected to start production in 2028. The facility will feature ultra-low-car