CANBERA (dpa-AFX) - Fortescue Limited (FMG.AX), an Australian metals miner, said on Thursday that it has inked a deal with Taiyuan Iron and Steel (Group) Co., Ltd., or TISCO, a subsidiary of China Baowu Steel Group Corp., Ltd., to explore new low-carbon metallurgical processes to boost decarbonization.
Fortescue Growth and Energy CEO, Gus Pichot said:'This partnership is about pushing the boundaries of what's possible in green iron making. Hydrogen-based plasma technology shows real promise. We want to see how it can support green iron making using Fortescue Pilbara ores, and whether it can run reliably in continuous production.'
Under the terms, the companies will collaborate on an industrial trial of hydrogen-based plasma-enhanced iron and steel metallurgy. This technology aims to create a more compact, energy-efficient, and hydrogen-enabled iron-making process, removing the need for sintering, pelletizing, and coking.
The project includes the design, construction, and operation of a pilot industrial test line capable of producing up to 5,000 tons of molten iron a year.
Fortescue will provide financial support for the development project to jointly advance its implementation.
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