On October 22, 2021, Rio Tinto has announced plans to make nearly US$7.5 billion in direct investment between 2022 and 2030 to reduce its Scope 1 and Scope 2 carbon emissions by 50% by the end of this decade. The mining company’s initial goal is to reduce emissions by 15% from the 2018 baseline of 32.6 million tons of carbon dioxide equivalent by 2025. The new target is five years ahead of the company's previously announced target. Rio Tinto said the investment will be used for direct capital expenditures to achieve asset decarbonization.

The focus of the miner will be to use renewable energy for iron ore production in the Pilbara region. This requires an annual investment of US$500 million from 2022 to 2024. Rio Tinto will allocate nearly US$200 million to cover incremental operating expenses related to the development of new capabilities, the implementation of energy efficiency programs, and research and development (R&D). The company said it will prioritize growth capital for commodities that are critical to the net-zero transition, with the goal of doubling growth capital expenditures from 2023 to nearly $3 billion per year. RioTinto CEO Jakob Stausholm said: “All of our commodities are vital to the energy transition and continue to benefit from continued urbanization. We have a clear way to decarbonize our business and are actively developing technologies to enable our customers and Customers’ customers can decarbonize. "We can do this while continuing to provide attractive returns to our shareholders in accordance with our policies, because we have a strong balance sheet and world-class assets throughout the cycle Provide strong free cash flow. "Keywords: engineering construction, engineering news

In Pilbara, the company's goal is to quickly deploy 1GW of wind and solar energy. Decarbonization efforts in the region will enable the company to offset nearly one million tons of carbon dioxide. The miner stated that 100% electrification of trucks, mobile equipment and railway operations in the Pilbara region requires the deployment of additional gigawatts of renewable energy and advances in fleet technology. RioTinto is also studying the use of biomass and hydrogen to provide a more environmentally friendly way to make steel for its Pilbara iron ore. The company said it plans to use renewable energy to power its Boyne Island and Tomago smelters in Australia. The company said that this will require an estimated 5GW of solar and wind power generation capacity on an equity basis, and a strong consolidation solution is also needed. In addition, the mining company is developing ELYSIS technology to eliminate carbon emissions from the smelting process. It is said that the commercial scale of this technology is expected to be realized in 2024. Recently, this mining professional company signed a memorandum of understanding (MoU) with South Korea’s Pohang Iron and Steel Company to jointly develop low-carbon steel technology.Editor/XingWentao,Design/XiaChangwang