Rio Tinto, Norsk Hydro Invest $45M in Carbon Capture

Rio Tinto, the giant mining company, and Norsk Hydro, aluminum and energy concern based in Norway, have together announced an investment of $45 million in carbon capture technologies, a step seen as a step towards decarbonizing aluminum. The two will work together with research and development initiatives to make the aluminum process less carbon emissive over five years. More than half the work will take place at the facilities of Rio Tinto located in Europe, while the others will be implemented at Hydro plants in Norway.

The collaboration shall focus on an evaluation and search for the right carbon capture technology to be employed in the aluminium electrolysis process. This has been an extensively researched process- from laboratory trials with third parties to bigger in-house pilot testing. The cost and outcome sharing of the entire R&D works will be addressed by the firms as they both strive to look for commercially exploitable technologies offered by the related suppliers. Then, improved technologies for carbon capture shall be aimed at to spread across the business.

Jakob Stausholm, Chief Executive of Rio Tinto, said, "Rio Tinto is committed to reaching net zero emissions from our operations by 2050, and we know that achieving our climate objectives will require a portfolio of solutions.". By working in partnership with Hydro to assess certain carbon capture technologies for aluminum smelters, we are finding better ways to leverage our complementary networks and R&D capabilities to address the climate change challenge.”

Both Rio Tinto and Norsk Hydro have a history of pioneering efforts to reduce the carbon footprint of aluminum production. For years, scientists from both companies have been exploring various methods of capturing carbon emissions during the smelting process. They have also collaborated on the development and scaling up of carbon-free aluminum smelting technologies, a key focus area for the industry as it moves towards more sustainable operations.

Hydro President and CEO Eivind Kallevik emphasized the role of carbon capture in their sustainability strategy. He said, "Hydro is accelerating our ambitious roadmap to achieve net-zero aluminum production by 2050 or sooner, advancing solutions across every step of our value chain – from mine to metal.". Carbon capture technologies are essential in decarbonizing existing smelters, and the partnership with Rio Tinto will amplify efforts in developing fit-for-purpose solutions to accelerate the transition of the aluminum industry towards net-zero production.

The two companies are both individually pursuing major decarbonization efforts. Mining giant Rio Tinto, one of the world's largest producers and processors of iron ore, copper, aluminum, and other minerals, has set a target to lower its operational Scope 1 and 2 emissions by 50% by 2030 and to achieve net zero by 2050. On the other hand, Norsk Hydro, operating in 40 countries and being one of the world's top aluminum manufacturers, has committed to achieving the production of net-zero aluminum by 2050 or earlier.

The aluminum industry is a significant contributor to global carbon emissions, with the electrolysis process being a primary source of carbon dioxide output. Carbon capture technology offers a promising solution by capturing and storing emissions before they are released into the atmosphere. By pooling their resources and expertise, Rio Tinto and Hydro aim to accelerate the development of technologies that could revolutionize aluminum production and make it more sustainable.

This collaboration is one of the proofs of the growing interest among industry leaders toward net-zero emissions realization through innovative solutions and collaborative efforts. Investing in carbon capture technology is a sign of the commitment from Rio Tinto and Norsk Hydro to lead aluminum into a future that is more sustainable and greener.

This is one of the initiatives that the world needs to drive progress and inspire other industry players to follow suit in addressing the challenges of climate change. The partnership between Rio Tinto and Norsk Hydro is a powerful example of how collaboration and innovation can help pave the way for a more sustainable and decarbonized industrial landscape.