It has partnered with German steel group SHS-Stahl-Holding-Saar and engineering group Paul Wurth for potential industrial scale low-carbon iron production in Canada.
The world's no. 1 miner rewarded investors with a record $5.1bn first-half dividend and forecasted a “very constructive” outlook for the commodities market fundamentals.
Gemcorp will own 75% of the business and Endiama 25% and alongside with funding a pilot project, the London-based investment firm will oversee operations.