SHANGHAI (Reuters) – China Baowu Steel Group announced on Thursday the establishment of a global low-carbon metallurgical innovation alliance, in a bid to cut greenhouse emissions in the world’s biggest steel producer.
Major miners, competitors and colleges will form part of the alliance, the firm said, adding that it also aimed to set up a low-carbon metallurgical innovation fund to invest 35 million yuan ($5.5 million) in research each year.
($1 = 6.3751 Chinese yuan renminbi)
(Reporting by Min Zhang and Shivani Singh; Editing by Clarence Fernandez)
