According to The Australian Financial Review, BHP has put more money into efforts to reduce the carbon footprint of steelmaking, this time by taking a shareholding in a small US company called Boston Metal.
BHP put an undisclosed sum, understood to be close to $US10 million ($13 million), into the $US50 million raising conducted by Boston Metal last week.
The funds will help the private company accelerate its molten oxide electrolysis technology, which is seen as a stepping stone to the production of emissions-free steel.
Emissions from steelmakers mean iron ore miners such as BHP, Rio Tinto and Fortescue Metals have very large "scope 3" emissions, regardless of whether they sell coal.
BHP and Rio have expressed a desire to reduce their scope 3 emissions footprint, with both companies announcing partnerships with China's biggest steelmaker, Baowu, on projects to reduce the emissions at its steel mills.
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