Brazilian mining company Vale and German steelmaker Stahl-Holding-Saar (SHS) have signed a memorandum of understanding to develop carbon-neutral steel production.
The agreement involves the two companies exploring the application of Vale's green iron ore briquettes and direct reduction pellets, as well as Tecnored technology and a briquette plant located near SHS's facilities, in steel production.
This development will help Vale reduce its net Scope 3 emissions by 15 per cent by 2035. Vale also aims to eliminate Scope 1 and 2 emissions by 33 per cent by 2030 and achieve net zero emissions by 2050.
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