REG - Anglo American PLC - Anglo American partners with Nippon Steel

Anglo AmericanAnnouncement

14/07/2022 07:00

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RNS Number : 4086S  Anglo American PLC  14 July 2022

 14 July 2022
 Anglo American partners with Nippon Steel to advance steelmaking
 decarbonisation

Anglo American and Nippon Steel Corporation ("Nippon Steel") have signed a
memorandum of understanding to work together to accelerate the transition to
lower carbon steelmaking, building on the premium physical qualities of Anglo
American's iron ore to help drive emissions reduction.

 

Peter Whitcutt, CEO of Anglo American's Marketing business, said: "This
agreement is an important component of Anglo American's approach to
collaborating with our customers and helping to shape a greener future for the
backbone of global infrastructure - steel. By working together, we can drive
towards system-level decarbonisation and pave the way for sustainable
steelmaking, underpinning the steel industry's full potential as an enabler of
society's wider economic prosperity and social development."

 

Anglo American supplies high quality steelmaking coal and iron ore to steel
customers around the world. As part of this agreement, the two companies will
research ways to optimise premium lump ore produced by Anglo American's mines
to decrease emissions via the traditional blast furnace (BF) steelmaking
process.

 

The project will also focus on studying the use of Anglo American's iron ore
in the more carbon-efficient direct reduction iron (DRI) steelmaking method.
DRI is estimated to generate significantly lower emissions than the more
prevalent steelmaking routes of blast furnaces and basic oxygen furnaces.

 

Peter Whitcutt added: "Our product portfolio focuses on future-enabling metals
and minerals that are critical to the transition to a lower carbon world.
Working with our customers is one of the cornerstones of our efforts to reduce
emissions across our entire value chain - the majority of which are associated
with the downstream use of our products in steelmaking. We look forward to
collaborating on this important work with Nippon Steel, with whom we have a
relationship that spans more than five decades, combining our expertise for
more efficient and less carbon intensive production processes."

 

In October 2021, the publication of Anglo American's Climate Change Report set
out an ambition to reduce Scope 3 emissions by 50% by 2040, building on a
pre-existing commitment to reach carbon neutrality across its operations by
the same year. The steel value chain was recognised as key to achieving this
ambition, with the majority of Anglo American's Scope 3 emissions linked to
materials sold into the industry. The report outlined a holistic approach to
decarbonisation, predicated across multiple levers, including developing high
quality products to feed into more efficient and less carbon-intensive
production processes, driving efficiency and minimising emissions, and working
with customers to accelerate decarbonisation efforts.

 

In March 2021, Nippon Steel announced its "Nippon Steel Carbon Neutral Vision
2050," the company's flagship initiative to respond to climate change. Through
this programme, shaped around the transition to innovative and more
sustainable production methods, and the adoption of innovative technologies,
Nippon Steel aims to reduce emissions by 30% by 2030 and achieve carbon
neutrality by 2050.

 

 

 

 

 

 

 

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)
 Katie Ryall

 katie.ryall@angloamerican.com (mailto:katie.ryall@angloamerican.com)               Tel: +44 (0)20 7968 1494

 Tel: +44 (0)20 7968 8935

 South Africa

 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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