OTTAWA, October 12, 2022 - The Canadian Steel Producers Association (CSPA) celebrates yesterday’s announcement of significant new investment by the federal government at Rio Tinto Fer & Titane for the greening of their operation in Sorel-Tracy, Quebec.
The federal investment of up to$222M will spur up to $737M in overall investment to dramatically support the decarbonization of their operation, create a centre of excellence for critical minerals and drive growth in Canada’s future low carbon economy.
“This announcement and further technological developments could deliver substantial greenhouse gas reductions of up to 70% from these operations and set a path for further reductions in the future,” said Catherine Cobden, President and CEO of the CSPA. “It is also an important illustration of the strong and growing partnership between the government, the steel industry and the critical minerals sector to position Canada at the front of the line with our trading partners on key sectors such as electric vehicles, 3D printing, and aerospace.”
Canada produces some of the greenest steel in the world and is not standing still. In 2020, the CSPA membership outlined their plan to reach an aspirational goal of net zero greenhouse gas emissions by 2050. The CSPA Call to Action identified partnerships and financial support as a key ingredient for the industry’s green transformation for research, development and deployment of emission reduction technologies.
“Over the last year, major projects have been announced at Canadian steel plants that will reduce our greenhouse gas emissions by over 45% by 2030,” said Cobden “We are proud of our early successes on tackling this global challenge and appreciate the strong partnership by government to helping us get there.”
L’Association canadienne des producteurs d’acier est le porte-parole national de l’acier primaire et du secteur des tuyaux et des produits tubulaires du Canada. Elle s’emploie à garantir un environnement commercial compétitif et durable à ses membres et aux parties prenantes de la chaîne d’approvisionnement. Les producteurs d’acier canadiens font partie intégrante de l’économie canadienne et sont un fournisseur vital pour de nombreux segments de l’industrie nord-américaine, notamment les secteurs de l’automobile, de l’énergie, de la construction et des transports.