Brazilian iron ore producer Vale and China’s steelmaker Jiangsu Shagang, also known as Shasteel, have signed a memorandum of understanding (MoU) to seek “opportunities” in the development of steel products to reduce CO2 emissions, Vale said.
Vale said both companies intend to “develop economic feasibility studies” for the use of products with a lower carbon impact in the steelmaking process.
Vale said those products include high Fe content iron ore and cooperation between the two companies using Vale’s Tecnored plants. Tecnored is a company owned 100 percent by Vale that focuses on the development of low-carbon impact pig iron.
Vale said it expects the MoU will help the Brazilian miner achieve its goal of reducing emissions.