Company: RTNTF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001628280-25-006642
Chunk: 115

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 115
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bon hydrogen production infrastructure, enabled by access to grid-connected nuclear power. By processing our iron ore with GravitHy, emissions are reduced by up to 90% compared to a typical BF-BOF pathway. 3. Future pathways While low-carbon DRI technology is established for high-grade ores, there is currently no economic low-carbon iron and steelmaking technology for low- and medium- grade ores, such as those produced in the Pilbara. Low- and medium-grade iron ore accounts for more than 80% of global iron ore supply. Full decarbonisation of the steel industry therefore depends on the development and commercial proliferation of low-carbon ironmaking technologies that use low- and medium-grade ores. We are supporting the development of these technologies with a focus on: – Beneficiating our ores to remove impurities before ironmaking. – Pelletising our ores to improve their suitability to proven shaft furnace technology – Evaluating emerging fluidised bed technology. This technology may be a suitable process for our iron ore fines products, removing the need to pelletise prior to ironmaking. – Developing a proprietary ironmaking process called BioIron™ which uses raw biomass 3 , along with microwave energy, to convert Pilbara ores into metallic iron. This has potential to reduce carbon emissions by up to 95% compared to the BF-BOF if combined with renewable energy and fast- growing biomass. – Jointly developing ESF technology, which is required for all of the above ironmaking pathways. The ESF removes impurities inherent in low- and medium-grade ores, as a second stage of ironmaking. We are progressing our partnership with BlueScope and BHP to build an ESF pilot facility in Australia. This will initially use natural gas to reduce iron ore to DRI, but once operational, the project aims to use lower-carbon emissions hydrogen to reduce iron ore. Reductions of up to 80% in carbon emissions are potentially achievable, compared to a typical BF-BOF. We are also working with Baowu to build an ESF pilot facility in China.

| In 2024, we spent $65 million on steeldecarbonisation initiatives. Over the next 3years, 2025-2027, we plan to spend$200-350 million across our steeldecarbonisation portfolio. |

Decarbonisation of the steel sector will not happen in isolation; all stakeholders along the steel value chain will need to work together. Ultimately, Scope 3 emissions reductions are dependent on the deployment of