(Alliance News) - Anglo American PLC on Thursday said it signed a memorandum of understanding with Thyssenkrupp Steel Europe AG, a subsidiary of German steel producer thyssenkrupp AG, to focus on decarbonising steelmaking.
"The collaboration will focus on joint research to accelerate the development of high-quality feedstock for lower carbon steel production, using both conventional blast furnace and direct reduction iron steelmaking - the latter being a less carbon intensive method which requires iron ore of a particularly high quality," Anglo said.
Anglo Chief Executive Peter Whitcutt explained: "We are combining the premium physical and chemical qualities of our minerals with Thyssenkrupp Steel's innovative technology to drive more sustainable operations, all the while responding to society's growing expectations for climate-responsible production practices."
ThyssenKrupp Steel Chief Technology Officer Arnd Kofler said: "We want to decarbonise the steel value chain inside and outside our plant boundaries. We are making our own production low-carbon through a combination of direct reduction plants with innovative melters."
Anglo American shares were 2.1% lower at 2,576.00 pence each in London on Thursday morning, while thyssenkrupp shares fell 1.5% to EUR5.01 each in Frankfurt.
By Tom Budszus; tombudszus@alliancenews.com
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