Brazilian miner Vale and a royal commission in Saudi Arabia have signed an agreement to build a green briquettes plant in the Middle Eastern country.
The agreement was signed on the sidelines of the Future Minerals Forum (FMF), that took place last week in Saudia Arabia.
The CEO of Vale, Eduardo Bartolomeo, who participated in the forum, mentioned that it is crucial for the decarbonization of the steel industry the construction of the plant, in a mega-hub of iron ore, located in Ras-Al-Khair.
The plant will be operated by Vale and will produce high-quality products, to feed the production of sponge iron destined to direct reduction plants.
The project should allow for a 60 percent reduction of emissions from the steel production, when compared to current operations, serving local consumers and international markets.