Brazilian miner Vale has launched a subsidiary, Vale Ventures, focused on finding sustainable solutions for the future of mining and metals activities.
With an initial budget of $100 million, Vale Ventures will support start-up companies in the development of new business models and technologies that will be incorporated to its operations.
The main items to be addressed by Vale Ventures will be the decarbonization of the mining chain and helping Vale and its clients reduce carbon emissions to achieve the company’s goal of carbon neutrality in 2050.
The company also aims to reduce mining residues and environmental impacts, fostering a circular economy and generating a new flow of revenues; increasing capacity to supply the metals that are essential to the energetic transition; and investing in new technologies that will change the ways that the mining companies develop their business.
According to Viktor Moszkowicz, the CEO of Vale Ventures, “with such disruptive solutions, we can generate financial and strategic return, generating new business opportunities, insights and knowledge to Vale, its clients and the society.