This Morning in Metals: Rio Tinto joins Japan’s Green Value Chain Platform Network

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This morning in metals news: miner Rio Tinto joined an effort in Japan promoting decarbonization transparency; the Nikkei Review reported automaker Nissan plans to use cobalt-free electric vehicle batteries by mid-decade; and British Prime Minister Boris Johnson weighed in on the Liberty Steel crisis.

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Rio Tinto joins Green Value Chain Platform Network

Miner Rio Tinto has joined Japan’s Green Value Chain Platform Network, it announced Thursday. The network aims to “lead transparent decarbonization efforts” in the country.

Japan established the network in 2018, Rio Tinto noted.

“We are honoured to be welcomed into the Ministry of Environment’s GVC Network and look forward to engaging on innovative approaches with customers, government and industry to help reduce Japan’s carbon footprint,” Rio Tinto Japan President Bill Horie said.

Rio Tinto said it aims to reach net zero emissions by 2050.

Nissan to use cobalt-free batteries

In other sustainability news, automaker Nissan said it plans to use cobalt-free electric vehicles batteries by the mid-2020s, the Nikkei Asia reported.

Electric vehicle makers grapple with the challenge of limited cobalt supply and rising prices. As a result, automakers have explored alternative battery metal composition to limit costs.

PM Johnson optimistic on Liberty Steel solution

As we’ve covered previously here in detail, Liberty Steel, a subsidiary of Sanjeev Gupta’s GFG Alliance, is in crisis after the collapse of its top financial backer Greensill Capital.

The UK government recently rejected a bailout plea from the embattled steel group.

British Prime Minister Boris Johnson on Thursday indicated he is hopeful that a solution can be reached to address the situation, Reuters reported.

Johnson added that steelmaking in Britain is “of strategic long-term importance.”

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