Tata Steel buys smelter technology from mining major rio tinto
Tata Steel has acquired the intellectual property rights and it’s a new smelter technology from global metals and mining major, Rio Tinto, for an undisclosed amount.
Tata Steel has been incorporating new and effective environment-friendly practices so as to make its plants and products more sustainable. The company’s Netherlands unit along with Rio Tinto’s technology had developed a method which reduces carbon emissions as well as steelmaking costs.
This newly acquired technology along with Tata Steel’s existing innovative Hlsarna technology has the potential to reduce use of energy and carbon emissions by at least 20 per cent. The new steel making process, combines Tata Steel’s cyclone converter furnace with Rio Tinto’s smelter
The CO2 produced by the HIsarna installation can be captured and stored for reuse which will reduce CO2 requirement by 80 per cent and lead to cost saving, besides substantially reducing emissions of fine particles, sulphur dioxide and nitrogen oxide.
This technology also removes a number of pre-processing steps resulting in significant efficiency gains .
As the global steel industry is plagued by challenges to reduce high production costs meanwhile tackling the fluctuations in raw material costs particularly iron ore and coal and higher energy expenses.
Acquisition of full intellectual property rights for Hlsarna, has been a significant step towards establishing TATA steel as a chief steel manufacturing plant in today’s market. It also ensures the long-term sustainability of the business .
This technology will give Tata Steel, an upper hand in the market of global steel majors owning low-carbon steelmaking technology.Previous Post Next Post
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