Rio Tinto Backs Calix in $22M Green Steel Push

Rio Tinto is investing US$22 million in Calix’s Zesty Green Iron Demonstration Plant in Kwinana, advancing low-emission steel production in Australia.

The project, co-funded by the Australian Renewable Energy Agency, will test hydrogen-based direct reduction and electric heating to produce up to 30,000 tonnes of low-carbon iron annually. Rio Tinto will supply Pilbara ore and has secured a perpetual licence to scale the technology.

The move aligns Rio Tinto with global green steel leaders, including Sweden’s HYBRIT and H2 Green Steel, and positions Western Australia as a potential green steel export hub.

Analysts note the investment strengthens Rio Tinto’s ESG credentials and market positioning, while technical, hydrogen supply, and market risks remain as the technology scales from demonstration to commercial use.

If successful, the project could give Rio a foothold in supplying low-carbon iron to steelmakers worldwide, supporting the transition to net-zero steel.