Norwegian decarbonized steel developer Blastr Green Steel has announced that it has signed a strategic framework agreement with US-based Cargill Metals to accelerate the decarbonization of the steel value chain.
The agreement covers multiple parts of Blastr’s integrated value chain, including supply of iron ore, offtake, product sales, logistics, and financial services.
Over the next few months, the companies will finalize definitive agreements and continue to work closely together to realize the shared ambition of bringing ultra-low carbon steel to global customers. Last year, the parties signed a memorandum of understanding to supply steel made without fossil fuels in the Nordic region to meet growing global demand for green steel, as SteelOrbis previously reported.
In addition, Blastr is initially developing a DR-grade pellet plant with an annual capacity of six million mt and a direct reduced iron plant with an annual capacity of 2.5 million mt.