REG - Anglo American PLC - Anglo American and Thyssenkrupp Steel MOU

Anglo AmericanAnnouncement

20/10/2022 08:00

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RNS Number : 4417D  Anglo American PLC  20 October 2022

 

 20 October 2022
 Anglo American and Thyssenkrupp Steel to collaborate on greener steelmaking
 technologies

Anglo American has signed a memorandum of understanding with longstanding
customer Thyssenkrupp Steel Europe AG ("Thyssenkrupp Steel") to collaborate on
developing new pathways for the decarbonisation of 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 (DRI) steelmaking - the
latter being a less carbon intensive method which requires iron ore of a
particularly high quality.

 

Peter Whitcutt, CEO of Anglo American's Marketing business, said: "As the
steel sector advances its efforts to transition from traditionally carbon
intensive production methods to cleaner, more sustainable processes, Anglo
American's high quality iron ore products will continue to play an important
role in enabling low carbon steel production at scale. 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."

 

Anglo American has adopted a holistic approach to address the challenges of
climate change, building on the commitments set out in its 2018 Sustainable
Mining Plan to decarbonise its operations, by shaping a long-term roadmap to
also help mitigate the impact of CO(2) emissions in its value chain.  This
includes investing in climate-positive technologies and working closely with
steelmakers to support their specific decarbonisation efforts.

 

Dr Arnd Köfler, Chief Technology Officer of ThyssenKrupp Steel adds: "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. In addition, we are working with
many partners to make steel low-carbon from A to Z. We are therefore very
pleased to be working with Anglo American to explore ways in which we can use
high-grade iron ore in the production process in the most emission-reducing
way possible."

 

Thyssenkrupp Steel is a leading manufacturer of high-quality carbon flat steel
for a wide range of industries, including automotive, energy generation,
appliances and packaging.

 

Anglo American's ambition for 50% Scope 3 emissions reduction by 2040

 

Climate science has set an imperative to decarbonise the global economy as
quickly as possible.

 

Building on the series of environmental and other commitments set out in its
2018 Sustainable Mining Plan, Anglo American set out an ambition in 2021 to
reduce its Scope 3 emissions by 50% by 2040, building on a pre-existing
commitment to reach operational (i.e., Scope 1 and 2) carbon neutrality by the
same year. With the majority of Anglo American's Scope 3 emissions linked to
materials - steelmaking coal and iron ore - sold into the steelmaking
industry, the steel value chain is central to the company's decarbonisation
efforts.

 

Anglo American's approach includes joining forces with like-minded customers
and others with similar ambitions for a lower carbon future. For example,
Anglo American has signed agreements with a number of major steelmakers in
Europe and Asia to research efficient feed materials suited for use in direct
reduced iron (DRI) steelmaking, including iron ore pellets and lump iron ore.

 

Steel production by DRI is a technically proven production method estimated to
be significantly less carbon intensive than the traditional blast furnace and
basic oxygen furnace integrated steelmaking process. When using green hydrogen
as a reducing agent, the process can be made largely CO(2)-free.

 

For further information, please contact:

 

 Media                                                                              Investors

 UK                                                                                 UK

 James Wyatt-Tilby                                                                  Paul Galloway

 james.wyatt-tilby@angloamerican.com                                                paul.galloway@angloamerican.com (mailto:paul.galloway@angloamerican.com)
 (mailto:james.wyatt-tilby@angloamerican.com)

                                                                                  Tel: +44 (0)20 7968 8718
 Tel: +44 (0)20 7968 8759

                                                                                  Emma Waterworth
 Marcelo Esquivel                                                                   Emma.waterworth@angloamerican.com (mailto:Emma.waterworth@angloamerican.com)

Tel: +44 (0) 20 7968 8574
 marcelo.esquivel@angloamerican.com (mailto:marcelo.esquivel@angloamerican.com)

 Tel: +44 (0)20 7968 8891

                                                                                  Michelle Jarman

                                                                                  michelle.jarman@angloamerican.com (mailto:michelle.jarman@angloamerican.com)

 South Africa                                                                       Tel: +44 (0)20 7968 1494

 Nevashnee Naicker

 nevashnee.naicker@angloamerican.com

 Tel: +27 (0)11 638 3189

 Sibusiso Tshabalala

 sibusiso.tshabalala@angloamerican.com
 (mailto:sibusiso.tshabalala@angloamerican.com)

 Tel: +27 (0)11 638 2175

Notes to editors:

 

Anglo American is a leading global mining company and our products are the
essential ingredients in almost every aspect of modern life. Our portfolio of
world-class competitive operations, with a broad range of future development
options, provides many of the future-enabling metals and minerals for a
cleaner, greener, more sustainable world and that meet the fast growing every
day demands of billions of consumers. With our people at the heart of our
business, we use innovative practices and the latest technologies to discover
new resources and to mine, process, move and market our products to our
customers - safely and sustainably.

 

As a responsible producer of diamonds (through De Beers), copper, platinum
group metals, premium quality iron ore and steelmaking coal, and nickel - with
crop nutrients in development - we are committed to being carbon neutral
across our operations by 2040. More broadly, our Sustainable Mining Plan
commits us to a series of stretching goals to ensure we work towards a healthy
environment, creating thriving communities and building trust as a corporate
leader. We work together with our business partners and diverse stakeholders
to unlock enduring value from precious natural resources for the benefit of
the communities and countries in which we operate, for society as a whole, and
for our shareholders. Anglo American is re-imagining mining to improve
people's lives.

www.angloamerican.com (http://www.angloamerican.com)

 

 

 

 

Forward-looking statements:

This document includes forward-looking statements. All statements other than
statements of historical facts included in this document, including, without
limitation, those regarding Anglo American's financial position, business,
acquisition and divestment strategy, dividend policy, plans and objectives of
management for future operations (including development plans and objectives
relating to Anglo American's products, production forecasts and Ore Reserve
and Mineral Resource positions) and environmental, social and corporate
governance goals and aspirations, are forward-looking statements. By their
nature, such forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of Anglo American or industry results to be
materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements.

 

Such forward-looking statements are based on numerous assumptions regarding
Anglo American's present and future business strategies and the environment in
which Anglo American will operate in the future. Important factors that could
cause Anglo American's actual results, performance or achievements to differ
materially from those in the forward-looking statements include, among others,
levels of actual production during any period, levels of global demand and
commodity market prices, mineral resource exploration and development
capabilities, recovery rates and other operational capabilities, safety,
health or environmental incidents, the effects of global pandemics and
outbreaks of infectious diseases, the outcome of litigation or regulatory
proceedings, the availability of mining and processing equipment, the ability
to produce and transport products profitably, the availability of transport
infrastructure, the impact of foreign currency exchange rates on market prices
and operating costs, the availability of sufficient credit, the effects of
inflation, political uncertainty and economic conditions in relevant areas of
the world, the actions of competitors, activities by courts, regulators and
governmental authorities such as in relation to permitting or forcing closure
of mines and ceasing of operations or maintenance of Anglo American's assets
and changes in taxation or safety, health, environmental or other types of
regulation in the countries where Anglo American operates, conflicts over land
and resource ownership rights and such other risk factors identified in Anglo
American's most recent Annual Report. Forward-looking statements should,
therefore, be construed in light of such risk factors and undue reliance
should not be placed on forward-looking statements. These forward-looking
statements speak only as of the date of this document. Anglo American
expressly disclaims any obligation or undertaking (except as required by
applicable law, the City Code on Takeovers and Mergers, the UK Listing Rules,
the Disclosure and Transparency Rules of the Financial Conduct Authority, the
Listings Requirements of the securities exchange of the JSE Limited in South
Africa, the SIX Swiss Exchange, the Botswana Stock Exchange and the Namibian
Stock Exchange and any other applicable regulations) to release publicly any
updates or revisions to any forward-looking statement contained herein to
reflect any change in Anglo American's expectations with regard thereto or any
change in events, conditions or circumstances on which any such statement is
based.

 

Nothing in this document should be interpreted to mean that future earnings
per share of Anglo American will necessarily match or exceed its historical
published earnings per share. Certain statistical and other information about
Anglo American included in this document is sourced from publicly available
third-party sources. As such it has not been independently verified and
presents the views of those third parties but may not necessarily correspond
to the views held by Anglo American and Anglo American expressly disclaims any
responsibility for, or liability in respect of, such information.

 

Legal Entity Identifier: 549300S9XF92D1X8ME43

 

 

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