Vale and Ternium sign MoU to develop iron ore briquetting plant in Brazil

Thursday, 19 August 2021 23:17:29 (GMT+3)   |   Sao Paulo
       

Brazilian iron ore producer Vale and Latin America focused steelmaker Ternium have signed a memorandum of understanding (MoU) to develop solutions to reduce CO2 emissions in the steel sector, the companies said on Thursday.

The two companies plan to develop several initiatives, including economic feasibility studies of potential investments in projects. Those include an iron ore briquetting plant located at Ternium Brazil’s facility in Rio de Janeiro state, as well as plants to produce metallic products with “low carbon footprint, using Tecnored, HYL and other technologies for iron reduction.”

Tecnored is a Vale subsidiary that focuses on developing a low carbon pig iron process using energy sources. HYL is a low carbon iron ore direct-reduction technology developed by Ternium in Mexico.

Vale said the agreement would help it achieve its goals, such as reducing emissions by 2035. “Vale is a key supplier in our value chain, and they share our commitment to preserving the environment,” said Maximo Vedoya, CEO at Ternium.


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