Anglo American partners with Nippon Steel

Mining giant Anglo American has partnered with Japan's Nippon Steel to accelerate a transition to lower carbon steelmaking.

Anglo American said on Thursday that the project will also focus on studying the use of its iron ore in a "more carbon-efficient" direct reduction iron steelmaking method, which it estimates will generate "significantly lower emissions" than the standard routes of blast furnaces and basic oxygen furnaces.

Chief executive Peter Whitcutt 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."

Reporting by Iain Gilbert at Sharecast.com