Brazilian miner and South Korean steelmaker Posco have signed a memorandum of understanding (MoU) to seek opportunities to develop solutions for the steel industry aimed at reducing CO2 emissions.
Vale said both companies will work to develop “decarbonizing solutions” for the steel industry. Vale said the two companies are in talks to achieve such a goal. They will both benefit from Vale’s existing portfolio of products, including high quality iron ore, pellets, fines and briquettes.
Vale’s products will be used as a potential solution to reduce fossil fuels consumption and significantly contribute to Posco’s aim of reaching zero carbon emissions at its steelmaking processes by 2050.