Rio Tinto IOC is working with the federal government to help decarbonize iron ore processing operations in Lab West.
Mike McCann, President and CEO of IOC, says the funding will allow them to reduce the amount of heavy fuel oil consumed in the production of iron ore pellets and concentrate.
An electric boiler is being installed that will replace heavy fuel oil boilers, in addition to fuel-efficient burners for the further reduction in heavy fuel oil consumption.
The federal government is providing $18-million toward the $50-million cost of the project.
Premier Andrew Furey was also in Labrador West for that announcement on the greening of steel.
It’s anticipated that the changes will result in a reduction of about 2.2 million tonnes of greenhouse gas emissions over the lifetime of the project. That’s the equivalent of taking about 18,000 gas vehicles off the road.
The project will create more than 100 jobs during the construction and implementation stages.
The people of Lab West are enthusiastic about the region’s great potential, and I was happy to join the Future of Labrador West Summit to talk about its incredible opportunity – particularly in mining and green steel – and our work to address challenges together. pic.twitter.com/QTOQCirbcb
— Andrew Furey (@FureyAndrew) February 27, 2024
