Tata Steel and BHP, a renowned global resources firm, have signed a Memorandum of Understanding (MoU) to collaboratively investigate and explore low carbon iron and steelmaking technologies.
Tata Steel and BHP propose to work on strategies to lower the emission intensity of the blast furnace steel route through two key areas – the use of biomass as a source of energy and the use of carbon capture and utilization (CCU) in steel production – under the collaboration.
The collaboration intends to assist both corporations achieve their climate change targets while also supporting India’s ambitions to be carbon neutral by 2070. The innovations investigated in this collaboration have the potential to lower the emission intensity of integrated steel mills by up to 30%.
More crucially, these initiatives show how carbon abatement measures used to the blast furnace iron-making process, which accounts for more than 60% of India’s steel output, may significantly lower the carbon intensity of existing capacity.
Aside from these initiatives, Tata Steel and BHP have agreed to a robust continuous information exchange in which both parties would explore further partnerships, ecosystems, and commercial possibilities throughout the steel value chain and the research and innovation sectors in India and Australia.
Tata Steel and BHP have been significantly involved in forming alliances with like-minded industry leaders to reduce emissions in the steelmaking process. Tata Steel has been aggressively interacting with technology businesses, academics, and corporations from other industries facing comparable decarbonisation difficulties.
Reference- Tata Steel Newsroom, Live Mint, Economic Times, Mercom India, Business Standard