Rio Tinto

The total amount of the contract is about $110 million

During this period, shipments of iron ore increased by 3% q/q

The company will specialize in evaluating the efficiency of the new direct iron recovery technology

Sales of raw materials during this period decreased by 9.5% q/q

The funds are intended to support the decarbonization of iron ore processing at the Labrador West facility

The companies will explore developing a pilot electrosmelting facility (ESF) in Australia

Raw material production increased by 2% year-on-year in 2023

The Simandou iron ore project is the world's largest untapped raw material deposit with resources of 2.8 billion tons

In 9 months of 2023, shipments increased by 5% year-on-year

However, the company warns that production of raw materials with a low iron content will increase

Pellets for the plant in Sweden will be supplied from Canada and Brazil

In the second quarter, shipments decreased by 4% q/q and 1% y/y