Vale and the Brazilian state of Pará have signed a contract for the construction of a “green” pig iron plant by the iron ore producer.
According a Pará state news agency, the plant, known as “TecnoRed” will produce 500,000 mt of pig iron per year. The plant will be located in the city of Marabá, where Vale operates its Carajás iron ore mine.
TecnoRed, a subsidiary of Vale, will use a low carbon pig iron process to produce the product by using corn biomass. The plant is expected to commence production by 2025 or 2026, according to a previous estimate by a local environment regulator. The project should generate over 2,000 jobs.