RPT-BHP teams up with China to work on iron and steel carbon capture

Mon Jun 6, 2016 5:29pm EDT
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* Funding underlines focus on industrial CCS, shift to China

* Campaigners say funding is tiny, given scale of problem

* BHP says fossil fuels will remain part of the energy mix

By Barbara Lewis

BRUSSELS, June 6 (Reuters) - BHP Billiton on Monday announced a $7.4 million donation to Peking University to develop technology to capture carbon emissions from the iron and steel industries.

Analysts said the funding marked a shift, as North America has so far led the way in development of carbon capture and storage (CCS) and the focus has been on power plants rather than industrial sector emissions.

BHP Billiton CEO Andrew Mackenzie said capturing carbon and finding industrial uses for it had the potential to be a significant industry for China if it can be proved to be commercially viable.

China, the world's biggest emitter, last December was among the nearly 200 parties that signed up to the first truly global deal on tackling climate change, which sent shares in coal mining firms tumbling.   Continued...