![ArcelorMittal bets big on decarbonisation](https://magarticles.magzter.com/articles/4033/767043/61715f3c66941/ArcelorMittal-bets-big-on-decarbonisation.jpg)
ArcelorMittal is betting big on decarbonisation of the steel put in investments across several innovative projects spread across continents.
The Lakshmi Mittal-owned global steelmaker has recently signed a letter of intent with the governments of Belgium and the regional government of Flanders, for a €1.1 billion investment in decarbonization technologies at its flagship plant at Ghent located there.
“To tackle the climate crisis, we need ambitious action. European countries are leading the way, with clear targets to reduce greenhouse gas emissions by 55 percent by 2030 and climate neutrality by 2050. It is good to see that sectors with a large footprint are also joining the race by investing in innovation that reduces emissions and, in the long term, achieves carbon neutrality,” Alexander De Croo, Prime Minister of Belgium, said.
“This ambitious project shows that industry is a crucial partner to achieve a climate-neutral society by 2050. It will be one of the largest climate investments in Belgium that will anchor ArcelorMittal in the Ghent region, that guarantee employment and that will provide low carbon and ultimately carbon-neutral steel. Green steel is needed in the switch to 100 percent renewable energy. What is good for the climate is good for the economy and for everyone,” Tinne Van der Straeten, Belgian Minister of Energy, said.
Reducing emission with smart DRI technology
Denne historien er fra October 2021-utgaven av Steel Insights.
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Denne historien er fra October 2021-utgaven av Steel Insights.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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![Steel's Net Zero mission](https://reseuro.magzter.com/100x125/articles/4033/793677/61b206d888ad3/crp_Steels-Net-Zero-mission.jpg)
Steel's Net Zero mission
The country’s commitment to achieving Net Zero within a targeted timeframe will now propel its steel sector towards a sustainable future in line with global trends.
![Fuel Price Hike, Supply Chain Disruption Hurt Festive Sales](https://reseuro.magzter.com/100x125/articles/4033/793677/61b1ff1b3561b/crp_Fuel-price-hike-supply-chain-disruption-hurt-festive-sales.jpg)
Fuel Price Hike, Supply Chain Disruption Hurt Festive Sales
Supply chain disruptions and fuel price hikes have hurt festive sales in a big way as most auto majors posted decline in sales in October.
![Seaborne coking coal offers remain range-bound](https://reseuro.magzter.com/100x125/articles/4033/793677/61b200704abed/crp_Seaborne-coking-coal-offers-remain-range-bound.jpg)
Seaborne coking coal offers remain range-bound
Seaborne coking coal offers moved in a narrow range in October amid global supply tightness and healthy spot demand.
![Global crude steel output down 8% in September](https://reseuro.magzter.com/100x125/articles/4033/793677/61b1fc84b9026/crp_Global-crude-steel-output-down-8-in-September.jpg)
Global crude steel output down 8% in September
China manufactured 74 mt in September, fall of 21% y-o-y while India’s production went up by 7% to 10 mt.
![MOIL embarks on expansion projects](https://reseuro.magzter.com/100x125/articles/4033/793677/61b1fbd15e103/crp_MOIL-embarks-on-expansion-projects.jpg)
MOIL embarks on expansion projects
“Even though our country is blessed with manganese ore reserves, we import 50% of the domestic requirement. We have to lower our import dependence and save precious foreign exchange.” Ram Chandra Prasad Singh, Steel Minister
![Iron ore handled by major ports down 17% in H1](https://reseuro.magzter.com/100x125/articles/4033/793677/61b1fe1654fee/crp_Iron-ore-handled-by-major-ports-down-17-in-H1.jpg)
Iron ore handled by major ports down 17% in H1
The 12 major Indian ports handled 27 mt of iron-ore during H1 of 2021, down by 17% from 33 mt recorded for the corresponding period of previous year.
![Shrinking China output to boost India exports](https://reseuro.magzter.com/100x125/articles/4033/793677/61b201f54d600/crp_Shrinking-China-output-to-boost-India-exports.jpg)
Shrinking China output to boost India exports
“In the third quarter of 2021, the company actively responded to the pressure from external policies, such as production curtailment and dual control system on energy consumption and intensity, as well as coal resource shortage and surging prices.” Baoshan Iron and Steel Co Ltd
![Indian Railways' iron-ore handling up 25% in H1](https://reseuro.magzter.com/100x125/articles/4033/793677/61b1fd69c8ba1/crp_Indian-Railways-iron-ore-handling-up-25-in-H1.jpg)
Indian Railways' iron-ore handling up 25% in H1
Indian Railways in April-September of 2021 (H1) transported 84 mt of iron ore, up by 25% over 67 mt during April-September 2020.
![September crude steel production up 7.2% y-o-y](https://reseuro.magzter.com/100x125/articles/4033/793677/61b202dcb9ece/crp_September-crude-steel-production-up-72-y-o-y.jpg)
September crude steel production up 7.2% y-o-y
India’s crude steel production in September 2021 grew 7.2 percent to 9.547 million tons (mt) over September 2020 but was down by 3.2 percent from August 2021 output, provisional steel ministry data showed.
![“Five enablers: way forward to sustainable cleaner steel”](https://reseuro.magzter.com/100x125/articles/4033/793677/61b204489bed2/crp_Five-enablers-way-forward-to-sustainable-cleaner-steel.jpg)
“Five enablers: way forward to sustainable cleaner steel”
Right and scalable technology, appropriate policy guidance by government, access to finance to fund transition, willingness of customers to pay for cleaner products and infrastructure for use of new technologies are the need of the hour for the sustainable and cleaner steel industry, according to Madhulika Sharma, Chief Corporate Sustainability, Tata Steel.