Tag Archives: Iron Ore Company of Canada

The Government of Canada awards Rio Tinto’s IOC funding for decarbonisation project

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The Government of Canada has awarded C$18.1 million ($13.4 million) from its Low Carbon Economy Fund to Rio Tinto’s Iron Ore Company of Canada (IOC) to support the decarbonisation of iron ore processing at its operations in Labrador West, the mining company says.

The funding will enable IOC to reduce the amount of heavy fuel oil consumed in the production of iron ore pellets and concentrate, according to Rio Tinto. The company will install an electric boiler to displace emissions from the usage of the heavy fuel oil boilers, as well as instrumentation and fuel-efficient burners to further reduce heavy fuel oil consumption from induration machines.

Over the lifetime of this project, IOC will see a cumulative reduction of about 2.2 Mt of greenhouse gas emissions.

Installation of the new equipment will begin in the June quarter of 2024 and is expected to be completed in the first half of 2025. The project will create more than 100 jobs during the construction and implementation stages in Labrador West.

IOC President and Chief Executive Officer, Mike McCann, said: “Rio Tinto IOC has a plan to decarbonise and continue producing some of the lowest carbon-intensity high-grade iron ore products in the world, right here in Canada. This project alone will eliminate approximately 9% of IOC’s greenhouse gas emissions. We look forward to collaborating with the Government of Canada and other partners towards our goal of achieving net zero emissions by 2050.”

Labrador Member of Parliament, Yvonne Jones, said: “By working with organisations across Canada, such as IOC, we can help the community save money on monthly operating costs and grow the economy, all while fighting climate change. Through the Low Carbon Economy Fund, the Government of Canada is partnering with climate leaders nationwide to cut emissions. I applaud the leadership shown by IOC for helping to keep our air clean and build resilient communities in Newfoundland and Labrador.”

The Government of Canada’s contribution represents approximately 25% of the total cost of the project, with IOC funding the remainder of the investment, Rio Tinto clarified.

CIM and Rio Tinto strengthen Canadian technical capability ties with new partnership

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The Canadian Institute of Mining, Metallurgy and Petroleum (CIM) has announced a new three-year partnership with Rio Tinto, aiming to strengthen technical capabilities and foster a robust, connected and engaged community of professionals in the Canadian minerals, metals and materials industries.

CIM says it has a long history of supporting the professional development of its members and partners, with a focus on creating, curating and delivering relevant, leading-edge knowledge. Through this partnership, CIM and Rio Tinto will work together to expand awareness of the essential contribution mining makes to society and achieve organisational and operational excellence.

Rio Tinto recognises CIM’s important role in facilitating thought leadership and serving as an incubator for innovation and advancement in ESG practices and clean technologies that are instrumental in increasing energy efficiency, CIM says. In fact, the 2023 CIM Convention and Expo – for which Rio Tinto is an Official Convention Sponsor – will act as a platform for discussions on how to build trust and efficient processes to decarbonise the industry, it added.

“We are thrilled to partner with CIM for the next three years,” Nigel Steward, Rio Tinto Chief Scientist, said. “Rio Tinto benefits from one of the largest technology and R&D ecosystems in the industry, with more than 500 employees dedicated to R&D and a strong network of partners. We know that professional associations can play a critical role in supporting our objective of finding better ways to provide the materials the world needs. CIM’s reputation for fostering a connected and engaged community aligns well with our own values of care, courage and curiosity, and we look forward to working together to achieve our common goals.”

This partnership between CIM and Rio Tinto is a mutually beneficial opportunity that will enhance the technical capabilities of Rio Tinto’s professionals while providing opportunities for professional development and networking, according to CIM. CIM members will have access to the expertise and resources of a leading global mining company, and Rio Tinto will benefit from CIM’s leadership in professional and industry development. Together, CIM and Rio Tinto will work towards the common goal of supporting the growth and success of the mining industry in Canada.

CIM CEO, Angela Hamlyn, added: “We are excited to partner with Rio Tinto, a global leader in the mining industry. This partnership will allow us to expand our reach and impact, and provide valuable opportunities for our members to learn from and collaborate with our corporate partners. Together, we will work to support the professional development and success of our members and the continued growth
of the mining industry in Canada.”

The partnership began in January 2023 and will run for three years.

Rio Tinto has several mining and metal operations in Canada, including stakes in the Diavik diamond mine in the Northwest Territories (pictured), the Iron Ore Company of Canada and industrial minerals operations in Quebec.

Rio Tinto to provide Salzgitter with iron ore for hydrogen direct reduction steelmaking trials

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Rio Tinto and the Salzgitter Group have signed a Memorandum of Understanding (MoU) to work together towards carbon-free steelmaking by studying optimisation of Rio Tinto’s high-quality Canadian and Australian iron ore products for use in Salzgitter’s SALCOS® green steel project in Germany.

Under the MoU, the two companies will explore optimisation of iron ore pellets, lump and fines for use in hydrogen direct reduction steelmaking. The two companies will also explore the potential for greenhouse gas emission certification across the steel value chain.

Rio Tinto produces iron ore pellets and concentrate at Iron Ore Company of Canada and iron ore lump and fines in Western Australia’s Pilbara region. The partnership will focus on the potential use of these products in the SALCOS – Salzgitter Low CO2 Steelmaking – program, which is targeting virtually carbon-free steel production, starting step-by-step in 2025 using hydrogen direct reduction.

Rio Tinto Chief Commercial Officer, Alf Barrios, said: “We welcome the chance to work with Salzgitter on ways to accelerate green steelmaking, in keeping with our commitment to reduce emissions across the steel value chain.

“Salzgitter has one of the world’s most advanced green steelmaking projects. Rio Tinto is excited at the opportunity of supplying our product and combining our technical expertise with that of Salzgitter to help advance the SALCOS project.”

Salzgitter Flachstahl GmbH Chairman of the Management Board, Ulrich Grethe, said: “With this alliance, we want to combine the knowledge of both companies to make further progress with low-carbon steel production.

“In this context, the Salzgitter Group is relying on strong partners, as set out in our ‘Salzgitter AG 2030’ Group strategy, in line with its motto of ‘Partnering for Circular Solutions’.”

The agreement follows a similar technical cooperation pact signed with LKAB last week, which could see the Europe-based iron ore miner supply high-quality iron ore pellets to Salzgitter for its SALCOS project.

Rio Tinto says it is committed to reaching net zero emissions by 2050 and is targeting a 15% reduction in Scope 1 & 2 emissions by 2025 (from a 2018 baseline) and a 50% reduction by 2030. Rio Tinto’s approach to addressing Scope 3 emissions is to engage with its customers on climate change and work with them to develop the technologies to decarbonise.

Under the SALCOS program, Salzgitter’s carbon-based blast furnace route will gradually be replaced from the middle of this decade by direct reduction plants, initially operated by natural gas and then with a steadily increasing proportion of hydrogen.

IOC to test government-backed hyperspectral core scanning technology

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Advanced drill core imaging technology being developed by College of the North Atlantic (CNA) and trialled at Iron Ore Company of Canada’s (IOC) site in Labrador, Canada, has received federal and provincial government backing to the tune of C$4.5 million ($3.6 million).

The Government of Canada, together with the Province of Newfoundland and Labrador, believe the “game-changing” tech being developed by CNA “will position the region as a global leader in the mining industry”, the CNA said.

Their investments, which come on top of support from IOC and Agnico Eagle Mines, are helping advance the development of a Hyperspectral Scanning Unit (HSU) currently at IOC’s site in Labrador City conducting its first drill core scans.

The HSU, CNA says, produces high-resolution drill core images that will give mining companies a better understanding of a region’s geology. The new technology will make drill core logging more accurate, improve exploration processes and increase the potential to discover new, lucrative mineral deposits, according to the college.

Liz Kidd, President and CEO, College of the North Atlantic, said: “This state-of-the-art technology – one of the most advanced, high throughput hyperspectral drill core scanning units available globally – aligns perfectly with the college’s vision to further expand and develop its applied research and innovation arm so that we can assist industry in achieving positive, breakthrough results in the mining sector.

“We are also excited that our graduates will benefit from the training associated with the HSU that, in turn, will provide meaningful long-term benefits for the province’s future workforce and lead the way in the advancement of hyperspectral technology for the mining sector. We are proud to play a major role in this initiative.”

Chantal Lavoie, Chief Operating Officer, IOC, said the company looked forward to testing equipment at its operations in Labrador West to make IOC an even “more efficient, competitive and sustainable business for generations to come”.

Guy Gosselin, Senior Vice President of Exploration, Agnico Eagle Mines, added: “Agnico Eagle is pleased to be part of this partnership and excited with the potential it represents for our industry. The mobile HSU, developed by CNA, is breakthrough and innovative technology that will bring more robustness to data analysis in a field traditionally based on human observation, while improving its consistency and quality. Ultimately, it will lead to increased exploration and potentially more discoveries, which is key for the future of our business.”

Rio’s IOC to supply high-grade iron ore for low-carbon steel feedstock project

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Rio Tinto, Paul Wurth SA and SHS-Stahl-Holding-Saar GmbH & Co (SHS) have signed a memorandum of understanding to explore the production of a low-carbon steel feedstock.

This partnership brings together a leading global miner, an international leader in the design and supply of engineering solutions for integrated steelmakers and one of Europe’s best-known steelmakers, Rio said.

The partnership will explore the viability of transforming iron ore pellets into low-carbon hot briquetted iron (HBI), a low-carbon steel feedstock, using green hydrogen generated from hydro electricity in Canada.

Iron Ore Company of Canada (IOC), in which Rio Tinto holds a majority interest, will supply high-grade iron ore and expertise in mining, processing and pelletising. Paul Wurth brings expertise in plant building and process knowledge in the field of highly efficient hydrogen generation and MIDREX® direct reduction plants. SHS brings iron- and steelmaking expertise.

Rio Tinto’s significant presence in the Canadian provinces of Quebec and Newfoundland and Labrador makes Canada a natural location for the project, it said.

“Canada provides access to cost competitive hydro electricity, and proximity to key markets in Europe and North America,” the company said. “Transforming high-grade iron ore pellets into a low-carbon steel feedstock using green hydrogen, when processed in an electric arc furnace with carbon free electricity, has the potential to reduce significantly the carbon emissions associated with steelmaking.”

The parties will conduct a feasibility study into the potential development of industrial-scale low-carbon iron production in Canada, using the combined expertise of the three partners across the entire steel value chain. The feasibility study is scheduled for completion in late 2021, with an investment decision on a hydrogen-based direct reduction plant at industrial scale expected to follow thereafter.

IOC President and CEO, Clayton Walker, said: “This partnership is part of Rio Tinto’s climate strategy to pursue proactive and action-oriented partnerships to support the development and deployment of low-carbon technologies for hard-to-abate processes like steelmaking.

“We are absolutely committed to being part of the solution on climate change and to support our customers and other stakeholders in the steel value chain as the industry transitions to a low-carbon future.”

Georges Rassel, CEO of Paul Wurth SA, said: “By associating the different players of the metal production chain, we are confident to develop the most appropriate and efficient solutions for this challenging transition towards a carbon-neutral industry.”

Martin Baues, Member of the Board of Directors for Technology at SHS-Stahl-Holding Saar, said: “Dillinger and Saarstahl adopted a future-focused strategy with the motto ‘proactive, carbon-free and efficient’. Within this strategy, we have defined various options for the transformation to carbon-neutral steel production. The use of hydrogen in steel production is a key factor in reducing carbon emissions. This partnership can further help us to reduce our carbon emissions on the basis of this technology, while gaining important experience in using hydrogen in steel production.”