COKE, IRON AND ALTERNATE IRON PRODUCTION HEADLINESProcess
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Two MMK Projects Qualify for Implementation under Kyoto Protocol
Apr. 12, 2012
Russian Economic Development Minister Elvira Nabiullina signed off on a list of projects that qualify for implementation under Article 6 of the Kyoto Protocol, including two projects being run by Magnitogorsk Iron and Steel Works.
MMK is introducing electric arc furnace (EAF) production of slab steel, and is upgrading agglomerate production and load-feeding at its blast furnaces. EAF production will reduce CO2 emissions by 1.2 million tonnes in 2008-2012, while upgrading agglomerate production and load-feeding by installing bell-less top loading equipment will reduce greenhouse-gas output by a further 600,000 tonnes over the same period.
MMK’s partner for the projects is Carbon Trade & Finance, which will act as the buyer of all emission reduction units (ERUs) generated and provide project development services.
In total, MMK has now obtained approval for three joint implementation projects. Previously the Economic Development Ministry also granted joint implementation status to the company's arc furnace steelmaking project.
Implementation of the three projects will significantly reduce MMK’s environmental footprint, with emissions set to decline by 7 million tonnes of CO2 over 2008-2012, the company claims.
As an investor in joint implementation projects, MMK has the right to sell ERUs to European companies falling outside their emissions quotas.