Iron ore price weakens as Australia flags return to sub-$100 prices
Futures dropped for a fourth day in Singapore, to trade about 3% lower for the week.
The chief executive officer of Rio Tinto Group, the world’s biggest iron ore miner, said it might take until the end of this decade before the company has a clear view on how it will become fully carbon neutral.
Rio Tinto’s Jakob Stausholm last month laid out plans to spend $7.5 billion to decarbonize its assets over the next decade and help drive a 50% reduction in its operational emissions by 2030.
Yet, speaking at the COP26 summit in Glasgow on Monday, the CEO said technological breakthroughs are needed for the mining giant to go further.
“You can’t solve 100% of CO2 without some breakthroughs,” Stausholm said in a Bloomberg TV interview.
“By 2030, we want to have halved our carbon footprint, and I want by 2030 to have a very clear pathway, without a lot of uncertainty, towards zero.”
(By Thomas Biesheuvel)
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