June 4, 2024

Industry News

Rio Tinto To Invest $215 Million In BioIron Process

Rio Tinto will invest $215 million to develop a research and development facility in Western Australia to further assess the effectiveness of its low-carbon ironmaking process, BioIron. The development of the BioIron Research and Development Facility in the Rockingham Strategic Industrial Area, south of Perth, follows successful trials of the innovative ironmaking process in a small-scale pilot plant in Germany.

BioIron uses raw biomass and microwave energy instead of coal to convert Pilbara iron ore to metallic iron in the steelmaking process. When combined with the use of renewable energy and carbon-circulation by fast-growing biomass, BioIron has the potential to reduce carbon emissions by up to 95% compared with the current blast furnace method. The BioIron facility will be the first time the innovative steelmaking process has been tested at a semi-industrial scale, capable of producing one tonne of direct reduced iron per hour. Fabrication of the equipment will begin this year, with commissioning expected in 2026.

Rio Tinto Iron Ore Chief Executive, Simon Trott, said, “BioIron is a world-first technology that has the potential to play a significant role in a low-carbon steel future. This research and development facility will further test the BioIron process, showcase Western Australian innovation capability, and further demonstrates Rio Tinto’s commitment to supporting and enabling the decarbonisation of the steel industry.”

Western Australian Premier, Roger Cook, said, “Our plan to turn WA into a renewable energy powerhouse opens up massive economic opportunities for the future, like producing low-emission steel right here at home. Processing iron ore in WA will create jobs, reduce the world’s carbon emissions and help to diversify and strengthen our economy for decades to come.”

BioIron uses raw biomass such as agricultural by-products like wheat straw, barley straw, sugarcane bagasse, rice stalks, and canola straw, instead of coal as the reducing agent.

For further information, visit the Rio Tinto website: www.riotinto.com