Global mining giant BHP announced on Friday that it has kicked off a commercial-scale direct reduced iron production project with China Baowu Steel Group Corporation to support steelmaking decarbonization development in China.
Its installed renewable energy capacity reached 53.09 GW at the end of 2023, up 22.6 percent year-on-year, according to the Shanxi provincial statistics bureau.
The German government earmarked about €1 billion ($1.1 billion) for raw materials investments as it seeks to reduce dependency on producers such as China for critical minerals, according to people familiar with the plan.