Rio Tinto (RIO) is building a research and development facility in Western Australia to test the BioIron process, which is expected to aid in decarbonizing the global steel value chain.
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Mining leader Rio Tinto (NYSE:RIO) has announced a $143 million (A$215 million) investment to establish a new research and development facility in Western Australia dedicated to low-emission steelmaking. The facility will focus on advancing the BioIron™ process, an innovative ironmaking technology that uses biomass instead of coal. "The world needs low-carbon steel to reach net zero, and we are working to make this a reality by finding better ways to turn our Pilbara ores into steel," said Simon