Iron ore miner Rio Tinto, steelmaker SHS-Stahl-Holding-Saar GmbH & Co. KgaA (SHS), and plant equipment supplier Paul Wurth S.A. have signed on to the project, representing a body of expertise spanning the steel production value chain. 

The partnership will investigate the use of hydrogen generated by Canadian hydroelectricity to produce low-carbon HBI. The study is to be completed later this year, with a final investment decision to follow.  

The partners said Canada is an ideal location for such a project due to its cost-competitive hydroelectric power, proximity to both North American and European markets, as well as Rio Tinto’s established presence in the Quebec and Newfoundland and Labrador provinces.

You can read the full press release here.