Rio Tinto to invest $23 mln in green iron plant in Western Australia

Rio Tinto, the world's leading iron ore producer, has signed a Joint Development Agreement (JDA) with Australian environmental technology firm Calix to invest over A$35 million ($23 million) in a green iron demonstration plant in Western Australia, according to the mining giant's release on November 17.

As global steelmaking shifts toward low-emissions processes requiring higher-grade ore, many miners, including Rio Tinto, are facing declining ore quality. Since July, the company has officially lowered the iron content of its flagship Pilbara Blend Fines from the typical 61.6% to 60.8%, as Mysteel Global reported. "The world needs low-emissions