9,420.42 TRY BIST 100 BIST 100
4.79 CNY CNY CNY
34.40 USD USD USD
36.34 EUR EUR EUR
0.13 CNY CNY/EUR CNY/EUR
42.75 TRY Interest Interest
71.81 USD Fossil Oil Fossil Oil
30.38 USD Silver Silver
4.10 USD Copper Copper
98.18 USD Iron Ore Iron Ore
375.00 USD Shipbreaking Scrap Shipbreaking Scrap
2,835.93 TRY Gold (gr) Gold (gr)

Vale launches global low-carbon iron ore production hubs

Vale, a Brazilian mining giant, is set to establish global "mega hubs" dedicated to low-carbon iron ore production. These hubs, slated for launch within the next year, will be strategically located in Brazil, the US, and the Middle East, aiming to drastically reduce carbon emissions in the steel industry.

Vale launches global low-carbon iron ore production hubs

Vale's Director of Energy and Decarbonization, Ludmilla Nascimento, has confirmed that site selection for these mega hubs is underway. These hubs, a key part of Vale's sustainability strategy for the mining and steel industries, will be built in Brazil, the US, and the Middle East.

he company has already announced plans for similar facilities in Oman, Saudi Arabia, and the United Arab Emirates. Vale has secured over 50 memorandums of understanding with partners, accelerating the development of these hubs.

In an innovative twist, while initial operations in the Middle East will utilize natural gas, Vale is exploring opportunities to integrate green hydrogen technology in its Brazilian operations, taking advantage of the nation's strong renewable energy infrastructure.

Nascimento highlighted the strategic objectives behind these hubs: they aim to not only produce iron products with negligible carbon footprints but also effectively "export energy through the product." She contrasted this with the traditional steel-making process, which typically emits about two tons of CO2 per ton of steel. This emission could be significantly reduced with the use of natural gas and possibly eliminated with hydrogen.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Swiss Steel Group plans capacity adjustments

Friday, November 15, 2024

Asian ship recycling countries strengthen efforts to comply with Hong Kong Convention

Wednesday, November 13, 2024

SSAB's green steel to be used in shipbuilding at Norway Salthammer

Thursday, November 14, 2024

EU industrial production decreased by 2% in September

Friday, November 15, 2024

Steel sector to strengthen through global events in 2025

Friday, November 15, 2024
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now