LONDON (dpa-AFX) - Anglo American Plc (AAUKY.PK, AAL.L), a British miner, and Japanese steel major Nippon Steel Corporation (NISTY.PK, NISTF.PK), have inked a memorandum of understanding or MoU, to boost up the steel maker's transition to lower carbon steelmaking, the both parties said on Thursday.
In addition, the two companies will research ways to optimize premium lump ore produced by the mining company's mines to cut emissions via the traditional blast furnace (BF) steelmaking process.
'The project will also focus on studying the use of Anglo American's iron ore in the more carbon-efficient direct reduction iron (DRI) steelmaking method,' the companies said in a statement.
DRI is estimated to generate significantly less emissions than the more prevalent steelmaking routes of blast furnaces and basic oxygen furnaces.
Nippon aims to reduce emissions by 30 percent by 2030 and hit carbon neutrality by 2050.
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