RIO to Test Biofuel Crop for Renewable Diesel Production in Australia

Rio Tinto (RIO) announced that it would invest in Pongamia seed farms in Australia to explore the possibility of using its seed oil as a feedstock for renewable diesel. RIO sees biofuels as an avenue to reduce the dependence on fossil diesel, which accounts for around 10% of its emissions footprint in Australia. To achieve net-zero Scope 1 and 2 carbon emissions by 2050, Rio Tinto has chosen electrification as the longterm solution for replacing the use of diesel in its fleet. While electrification is in pr ...