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Major technological breakthrough in BioIron™ process by mid-2025?
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Resolution / Starting Odds
Increased efficiency • 33%
Cost reduction • 33%
Emission reduction • 34%
Scientific publications or official Rio Tinto press releases
Story
Rio Tinto to Develop $143 Million BioIron™ Facility for Low-Carbon Steelmaking in Australia
Jun 4, 2024, 08:57 AM
Rio Tinto is set to develop a $143 million research and development facility in Western Australia to test its low-carbon steelmaking process, BioIron™. This initiative aims to transform an empty warehouse in Perth’s south into a state-of-the-art research facility. The BioIron™ process is designed to eliminate the need for cooking coal, significantly reducing emissions in the steel industry. This development highlights how new clean energy tech can help eliminate steel-industry emissions.
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Major breakthrough • 33%
Incremental improvements • 34%
No significant change • 33%
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Extended to other farm animals • 25%
Applied to industrial processes • 25%
Used in multiple sectors • 25%
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None • 20%
Highly effective • 33%
Moderately effective • 34%
Not effective • 33%
