Rio Tinto Initiates Biofuel Crop Farming Trial For Renewable Diesel Production In Australia

(RTTNews) - Rio Tinto (RTPPF.PK, RIO.L, RIO, RTNTF.PK) said that it will develop Pongamia seed farms in Australia as part of a new biofuels pilot. The project will explore the potential of Pongamia seed oil as a feedstock for renewable diesel, a cleaner alternative to traditional fossil fuels.

The pilot project aims to evaluate whether Pongamia seed oil can meet Rio Tinto's renewable diesel requirements while fostering the development of a new biofuel sector in Australia. Rio Tinto is in the final stages of acquiring around 3,000 hectares of cleared land near Townsville in North Queensland to set up farms that will study growth conditions and assess seed oil yields.

Rio Tinto noted that it has partnered with Midway Limited, to oversee the planting and management of the Pongamia seed farms. Midway Limited will engage with nurseries, agricultural experts and research organisations throughout the pilot, and prioritise opportunities for Traditional Owners and local communities.

As part of its ongoing efforts to achieve net-zero Scope 1 and 2 carbon emissions by 2050, Rio Tinto is actively exploring the potential of biofuels in the low-carbon energy mix.