Australia's Fortescue Metals signs deal to develop green iron-making plant

Dec 20 (Reuters) - Fortescue Metals Group (FMG.AX) said it had signed an agreement with Japan's Mitsubishi Corp (8058.T) and Austria-based steelmaker Voestalpine AG (VOES.VI) to develop a net-zero emissions iron-making prototype plant in Linz, Austria.

The new iron-making process at the Voestalpine site will be developed by Primetals Technologies, a venture involving another Mitsubishi company, which would provide its electric smelters to help produce cleaner metal for the steel-making plant.

Fortescue said on Monday it will supply various grades of iron ores to the new plant besides providing knowledge about iron ore quality and preparation.

The world's fourth largest iron ore producer has signed multiple agreements since last year as it strives to transition into a green energy company amid increasing calls for de-carbonisation.

Reporting by Tejaswi Marthi in Bengaluru; Editing by Shinjini Ganguli

Our Standards: The Thomson Reuters Trust Principles.