New joint initiative kicked off Brazilian miner Vale and Hydnum Steel have inked a Memorandum of Understanding (MoU) to together develop low carbon solutions for steelmaking.
“The agreement includes jointly evaluating the possibility of building a collocated iron ore briquette plant in Hydnum Steel's flagship project for green steel in Puertollano, Spain,” Vale said in a statement.
Under the plan, the plant will start to produce some 1.5 million tonnes of rolled steel in 2026, and it is forecast to have an annual capacity of about 2.6 million tonnes starting from 2030, according to data released by the Brazilian company.
“This is also a signal of clients’ engagement with Vale’s strategy of offering innovative solutions to decarbonize the sector. Vale has signed agreements to jointly study decarbonization solutions with more than 50 clients, who account for around 35% of the company’s scope 3 emissions. Some of these solutions include the building of briquette plants next to the clients’ facilities,” Vale said.