[Rio Tinto Group announces agreement with China Baowu plans to carry out a series of green steel projects in China and Australia] June 12, Rio Tinto Group announced the signing of an agreement with China Baowu, plans to carry out a series of green steel projects in China and Australia Rio Tinto Group issued a statement, announced the signing of a memorandum of understanding with China Baowu Iron and Steel Group Co., Ltd. Explore a series of new projects in China and Australia to help decarbonize the steel value chain. According to the statement, the new projects include the pilot project of an electric furnace at a Chinese steel plant in Baowu, which will facilitate the production of low carbon steel using direct reducing iron (DRI) from low and medium grade ores; optimization of pelletizing technology for Australian ores; further development of Baowu hydrogen-rich carbon cycle oxygen blast furnace (HyCROF) technology; and joint research on opportunities for producing low carbon iron in Western Australia.