BHP Shares Surge 4.57% on Decarbonization Boost with HBIS Partnership

On December 9, shares of BHP Group rose by 4.57%, marking a notable high since November 2024. The company recently announced a new strategic collaboration with HBIS Group, reflecting its commitment to advancing decarbonization within the steel industry.

BHP and HBIS Group have signed a fresh Memorandum of Understanding (MoU) to deepen their collaboration in reducing carbon throughout the steel value chain. This initiative aims to expand their current joint efforts to include the steel industry's end users, marking a significant step towards a low-carbon transformation of the sector.

Since the start of their partnership in 2021, both companies have implemented various projects and agreements focusing on this green transition. The new MoU seeks to conduct extensive trials to assess the emission reduction potential of blast furnace technologies. Both entities are also focusing on optimizing the use of BHP’s medium- and high-grade iron ore through direct reduced iron and electric arc furnace steelmaking processes.

The partnership will also prioritize full lifecycle assessment projects to track and evaluate the actual impact of reducing greenhouse gas emission intensity. Moreover, nurturing technical expertise and sharing industry knowledge are pivotal components of their collaboration, aiming to advance leading practices that align with climate goals and expedite the deployment of scalable technological solutions.

This renewed collaboration underscores BHP's and HBIS Group's proactive roles in shifting the steel industry towards green and low-carbon operations, further fueling global efforts against climate change.