Anglo American, plans to invest in start-ups developing technologies to reduce carbon emissions from steel-making and lower its carbon footprint.
Anglo produced 59.3 million tons of iron ore last year. The company aims to halve its Scope 3 indirect emissions by 2040.
“We are looking not only at how we decarbonize our own operations, but also at how we can reduce the emissions of our broader value chain,” Benny Oeyen, Anglo’s executive head of market development, said to Mining.com.
The company has therefore launched a competition, in partnership with EU-funded EIT Raw Materials, to find innovative small companies that can reduce greenhouse gases from the steel sector.
EIT Raw Materials, an “innovation network” in the raw materials sector, has a portfolio of about 300 start-up companies targeting a range of sectors, including exploration, processing, recycling and substitution.
The shortlisted firms will be assessed by Anglo’s decarbonized ventures team for potential investment and will have access to the group’s expertise.
Source: Mining.com
Image Source of Kolomela Mine, South Africa: AngloAmerican @ Flickr