Chinese steelmaker HBIS Group has signed a cooperation protocol with iron ore mining giant Vale to promote decarbonization in the steel value chain. Through this collaboration, the two companies aim to identify optimal raw material solutions for low-carbon conversion and explore the potential of the Tecnored melting furnace in recovering precious metals by processing solid waste.
President of HBIS Group Liu Jian explained on the company's WeChat account, “The signing of the cooperation protocol on decarbonization in the value chain of the steel industry represents the joint action of two major international companies, both upstream and downstream of the industrial chain, to combat climate change.”
Both companies are reportedly aiming to achieve carbon neutrality by 2050. Liu also expressed that they hope to deepen cooperation to explore breakthrough decarbonization technologies such as circular economy, hydrogen metallurgy and carbon capture, utilization and storage (CCUS).
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