Vale & Essar ink iron ore supply agreement for green steel project in Saudi Arabia
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Update time : 2023-09-13 16:08:38
Brazil mining company Vale and India’s steel group Essar signed a letter of intent to establish a partnership to supply 4 million tons per year of iron ore agglomerates, including DR grade pellets and briquettes, for Essar’s green steel project in Saudi Arabia.
The pellets will be supplied by Vale’s facilities in Oman or Brazil, and the briquettes will be produced by its Mega Hub in Saudi Arabia.
This is Vale’s first preliminary offtake supply agreement with a customer that will be installed in a Mega Hub, which is an industrial complex with an aim to produce low-carbon steel products to support the decarbonization of the steel industry.
