7 November 2020

BHP partners with steelmaker China Baowu on climate change

Resource company, BHP, and steel producer, China Baowu, have agreed to invest up to US$35mln and share technical knowledge to reduce greenhouse gas emissions from steel production.

Charging slab in furnace
Charging slab in furnace © Shutterstock

The five-year partnership will focus on the development of low carbon technologies and emission intensity reduction in integrated steelmaking. Carbon capture, use and storage in the steel sector will also be investigated at one of China Baowu’s production bases.

BHP’s investment will be funded under the US$400 million Climate Investment Program, set up last year to coordinate and prioritise projects, partnerships, R&D and venture investments to reduce Scope 1, 2 and 3 emissions, offsets and support development of technologies with the highest potential to impact change.