Vale, Kobe Steel, Mitsui plan low-carbon steelmaking technologies venture

摘要

London—Brazilian miner Vale, Japanese steelmaker Kobe Steel and trader Mitsui & Co have signed a non-binding agreement to set up a new joint venture (“NewVen”) to supply low CO2 metallics and steelmaking solutions to the global steel industry, as the sector seeks to step up its decarbonization initiatives in line with Paris Agreement goals. The venture, which is intended to provide new technological solutions to Vale’s clients, will use existing and new low-CO2 iron making technology including Tecnored -- a Brazilian pig iron production technology purchased by Vale several years ago -- and the US-based Midrex Process, Vale said in a July 13 statement. Midrex is owned by Kobe Steel, one of the partners in the planned joint venture.