March 24, HBIS and Rio Tinto Signed a MOU on Decarbonization Collaboration of Steel Value Chain in Beijing, and jointly explore the path of carbon reduction in steel industry, to feed a industry sustainable development, and provide wisdom to cope with the climate change. HBIS Chairman Liu Jian and Rito Tinto CEO Jakob Stausholm attended the ceremony and witnessed the signature of the MOU.

HBIS Vice President Li Yiren, Rio Tinto Chief Business Officer Bold Baatar signed the MOU.

Liu Jian said, HBIS adheres take the industry chain with carbon reduction interactively as one of crucial paths of decarbonization, and partnering up with up-downstream enterprises with good reputation to build low carbon industry chain and supply chain, to make a demonstration for promote carbon reduction cross industry and areas. Rio Tinto is one of the important strategic partners for HBIS, both parties support each other years. We expect to mutually explore new path and new manner for carbon reduction and build the value chain in carbon reduction cover whole steel industry, to make our effort and strength for addressing the common challenge of the climate change.

Jakob Stausholm said HBIS was a leading steel manufacturer in the world and has play a leading role in the sustainable development of steel industry. Rio Tinto is delight to deepen the partnership with HBIS further by this cooperation and to make effort on carbon reduction for steel industry. This MOU shows the joint effort between HBIS and Rio Tinto in technology innovation and solution and is the concrete implementation for high quality development and sustainable development for steel industry. I believe both parities will leverage our advantages to promote innovative growth and to bring wilder and more active effect to steel industry and society.

According to the MOU, HBIS and Rio Tinto will diversify cooperative manner and broader cooperative areas to build a long term and steady partnership. With improving the blast furnace composition, strengthen the R&D in effectiveness, to find more possibility of carbon reduction in blast furnace iron making process, and will make cooperation in hydrogen metallurgy to feed the steel industry sustainable development.

HBIS and Rio Tinto executives also attended the ceremony.