India’s Tata Steel Limited and Technology Metal Australia Limited (TMAL) have signed a memorandum of understanding (MoU) to collaborate on the reduction of emissions in steel production processes, a statement of Technology Metals said on Tuesday, October 12.
According to a regulatory filing by TMAL, the companies have entered into a non-binding MoU under which both companies will discuss requirements of downstream vanadium processing, aiming to find solutions to cut emissions in steelmaking applications.
The MoU will be effective for five years unless the parties mutually agree to terminate earlier formally, the filing said.
Discussions will also include potential investment by Tata Steel in TMAL or Murchison Technology Metals Project, according to the filing.
“TMAL is excited to be partnering with Tata Steel, one of the world’s largest steelmakers, and furthering Australia’s important trade relationship with India. Together, the companies can play an important part in reducing emissions in steel applications as the world progresses towards net zero carbon emissions,” Ian Prentice, managing director, TMAL said in a statement.
“Vanadium is a key component in Tata Steel’s steelmaking process to increase strength and reduce weight, and as our customers increasingly look to reduce their carbon emissions, we anticipate demand for these products to grow,” Tata Steel, vice president, strategic procurement, Rajiv Mukherji said in a separate statement.