Iron Ore Giant Sets Net-Zero Target for Steel-Making Customers

摘要

Fortescue Metals Group Ltd., the world’s fourth-largest iron ore producer, plans to have net-zero emissions from its its steel-making customers within two decades, setting it apart fromglobal rivals which doubt the technology will enable such a target to be met.The Perth-based company said it can reach the goal for so-called Scope 3 emissions by 2040. That compares with rival producers Rio Tinto Group and BHP Group, which have said they willwork with customers to reduce the carbon intensity of steel production by at least 30% over the next decade.Fortescue plans to ramp up the production of hydrogen derived from renewable sources, and use the clean gas to replace metallurgical coal-fired blast furnaces. The company wants toturn itself into a major green power producer, targeting 15 million tons of green hydrogen output annually by 2030.