October 20, 2021 Read More →

Rio Tinto plans $7.5 billion investment in wind and solar power by 2030

Renew Economy:

Mining giant Rio Tinto has unveiled plans for massive investments in wind and solar, including up to 5GW (5,000MW) for its Boyne Island and Tomago smelters and another 1GW for its huge iron ore mines in the Pilbara in Western Australia.

The projects were unveiled as part of Rio Tinto’s newly announced plans to spend $7.5 billion slashing its scope 1 and scope 2 emissions by half by 2030.

The plan also includes investments in green steel and green aluminium, replacing gas power plant, and the full electrification of its Pilbara grid, including all trucks, mobile equipment and rail operations, which will require another gigawatt-scale renewable deployment and advances in fleet technologies.

“Society at large is also demanding companies take more action to decarbonise.” the company said in a statement before a presentation to investors. “To meet the challenge, stay relevant and capture the opportunity Rio Tinto is raising its ambition and taking actions.”

Rio Tinto said the 50 per cent cut in Scope 1 and 2 carbon emissions by 2030 more than triples its previous targets. A 15 per cent in emissions for 2025 is five years earlier than previously stated.

[Giles Parkinson]

More: Rio Tinto plans massive 7GW wind and solar for smelters and iron ore mines

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