UAE-based Emirates Steel has announced that it has signed a four-year (2018-2021) high-value contract with Vale, the world’s largest producer of iron ore and iron ore pellets, for iron ore pellets supply for its steel production in Abu Dhabi, UAE. Emirates Steel has an iron ore pellet requirement of around 6 million mt per year.
“The agreement with Vale comes in line with Emirates Steel’s strategy, which aims to secure a flexible source of iron ore at competitive, stable and long-term prices. This new partnership plays a vital role in further strengthening the growth of our steel production in Abu Dhabi, as well as realizing our vision of being a world-class steel manufacturer providing the highest quality products, services and solutions to our customers and maximizing returns to our shareholders,” said Saeed Ghumran Al Remeithi, CEO of Emirates Steel.