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RIO - Rio Tinto News Story

6535p 58.0  0.9%

Last Trade - 07/05/21

Sector
Basic Materials
Size
Large Cap
Market Cap £105.80bn
Enterprise Value £109.70bn
Revenue £31.93bn
Position in Universe 12th / 1821

Liberty Steel plans low-carbon, hydrogen-powered plant in France

Mon 22nd February, 2021 10:47am
LONDON, Feb 22 (Reuters) - Liberty Steel, headed by
commodities tycoon Sanjeev Gupta,  plans to build a
hydrogen-powered steel plant in France to cut greenhouse gas
emissions, it said on Monday.
    Privately owned Liberty Steel aims to use hydrogen to
produce 2 million tonnes of low-carbon feedstock for its steel
plants elsewhere in France, the Czech Republic and Romania.
    Liberty, part of the GFG Alliance conglomerate owned by the
Gupta family, said the initiative is part of the group's pledge
to become carbon neutral by 2030.
    It plans to build a direct-reduced iron plant and a 1
gigawatt hydrogen electrolysis unit next to the GFG Alliance's
aluminium plant in Dunkirk, but no time frame was given.
    Liberty said it had signed a memorandum of understanding for
the project with Luxembourg-based engineering company Paul Wurth
S.A. and German steelmaker SHS-Stahl-Holding-Saar GmbH & Co
KGaA.
    Those two partners last week agreed with global miner Rio
Tinto  RIO.AX   RIO.L  to explore potential production of a
low-carbon steel feedstock in Canada.  urn:newsml:reuters.com:*:nL4N2KM1QI
    

 (Reporting by Eric Onstad
Editing by David Goodman
)
 ((eric.onstad@thomsonreuters.com; +44 20 7542 7093; Twitter https://twitter.com/reutersEricO;
 Reuters Messaging: eric.onstad.thomsonreuters.com@reuters.net))
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