Fortescue, Baowu Resources ink MoU on green iron project

Australian mining giant Fortescue Metals Group (FMG) has signed a Memorandum of Understanding (MoU) with Baowu Resources Co, a mineral resources supply chain subsidiary of China Baowu Steel Group, to collaborate on a 'green' iron project, according to the miner's latest news released on January 8.

The MoU, signed in Shanghai on January 6, underscores the two parties' commitment to tackling decarbonization challenges in the global steel industry, FMG said. "We are committed to establishing a green iron supply chain," Shelley Robertson, FMG's Chief Operating Officer said in a statement. "Our strong partnership with Baowu Resources