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JFE Steel pours $1bn into shrinking carbon footprint 20% in decade

Japanese steelmaker taps greener tech, pressed by investors and regulations

JFE Steel will upgrade its basic oxygen furnaces with an energy-efficient version and recycle more iron scraps. (Photo courtesy of the company)

TOKYO -- Japan's JFE Steel will spend over 100 billion yen ($955 million) during the next decade to install equipment at the company's mills nationwide, looking to reduce their output of carbon dioxide by at least 20% within that period.

JFE will replace basic oxygen furnaces, critical equipment in the refining process, with updated versions that are more energy efficient. This will let mills use more ferrous scrap as raw material.

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