Magnitogorsk Iron and Steel Works (MMK), Russia, and SMS Group today signed a Memorandum of Understanding (MoU) on cooperation in the field of decarbonization of steelmaking.
In this declaration, the two companies agree on the joint development and implementation of technologies to reduce the CO2 footprint in iron and steel production up to the complete avoidance of greenhouse gas emissions.
The MoU is valid for five years from the date of signature. The declaration was signed jointly by Pavel Shilyaev, CEO of MMK, and Burkhard Dahmen, CEO of the SMS Group.
In the agreement, both parties acknowledge climate protection as one of the most important tasks of our time and declare their intention to jointly investigate the possibilities offered by the use of decarbonisation technologies to reduce CO2 emissions in iron and steel production.
The MoU emphasises the need to further develop processes for the direct reduction of iron and to advance the highly efficient process route of electrolysis for the production of hydrogen.
Furthermore, both parties declare their intention to use the potential of new technological solutions within the framework of the cooperation, to carry out joint studies and investigations and to implement decarbonisation technologies at MMK with which CO2 emissions can be reduced or completely avoided while maintaining or improving the economic performance. The collaboration will develop a list of decarbonisation projects and measures that could potentially be applied at MMK.
Pavel Shilyaev says about the agreed cooperation: “We cannot ignore the facts. The imminent introduction of the Carbon Border Adjustment Mechanism (CBAM) by the EU makes the reduction of the “carbon footprint” a pressing and important issue and the biggest challenge for the global iron and steel industry. MMK is committed to responsibility for the environment and climate. We therefore want to make an active contribution to the climate agenda.