Glencore signs carbon capture deal for coal-fired power plant in Australia

Glencore said Monday it signed a memorandum of understanding for the cooperation on carbon capture utilization and storage technology with China Huaneng Group Clean Energy Research Institute.

Carbon capture work will commence with the CTSCo Project in Millmerran power station in Australia.

According to Glencore's news release, the CTSCo Project in Queensland, Australia, will use China Huaneng's CO2 capture technology at the Millmerran coal fired power station to capture a stream of CO2 which will then be transported and stored permanently in a non-potable aquifer at a depth of more than two kilometres.

Glencore CEO, Ivan Glasenberg, said the "...project is vitally important because it can scale up to support the reduction of Scope 3 emissions from the use of fossil fuels across a broad range of industrial sectors."

According to the miner's news release, Glencore is one of the world's largest diversified natural resource companies and China Huaneng is one of the world's largest energy and technology companies.