Trade spats to curb industrial metals demand: BMO
BMO Capital Markets has lowered its demand estimates for next year on the anticipation that higher tariffs and multilateral trade friction could tamp down industrial output.
Rio Tinto has partnered with French electrical equipment group Schneider Electric to utilise each others’ materials and services, the companies said on Wednesday.
Companies around the world are pledging a net-zero emission target by 2050, aligning themselves with the Paris Climate Agreement goal of limiting the global temperature rise to 1.5 degrees Celsius.
To achieve that, big carbon-emitting firms such as miners, are setting short- and medium-term targets achievable via partnerships and technological innovations.
Schneider Electric, which sells products ranging from electrical car chargers to industrial robotics, will use materials, such as low-carbon aluminum and copper produced by Rio Tinto with renewable power, iron ore, and borates.
In turn, Rio Tinto will utilise low-carbon sourced energy and industrial services from Schneider Electric.
The two said they are working jointly to develop digital platforms, technologies and solutions to be deployed across the metals and mining supply chain to drive further decarbonisation.
(By Clara Denina; Editing by Bernadette Baum)
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