According to The Nikkei Asian, Japan's JFE Steel will spend over 100 billion yen (US$ 955 million) during the next decade to install equipment at the company's mills nationwide, looking to reduce their output of carbon dioxide by at least 20% within that period.
JFE will replace basic oxygen furnaces, critical equipment in the refining process, with updated versions that are more energy efficient. This will let mills use more ferrous scrap as raw material.
The change will reduce the ratio of steel made from iron ore, a process that consumes coal and releases carbon dioxide. JFE also will adopt technology that makes use of catalysts to dissolve iron.
The company's steel business emitted 58.1 million tons of carbon in the fiscal year ended March 2014. That volume would drop 20% or more by fiscal 2030.
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