Brazilian mining group Vale and Hunan Valin Iron & Steel from China signed a Memorandum of Understanding to pursue ironmaking solutions focused on reducing CO2 emissions.
Vale and Valin Group intend to jointly study and explore the feasibility of cooperation on usage of Vale’s wide range of product portfolio, as high-grade iron ore products like pellets and fines, including products processed in grinding facilities in China.
The MoU also aims at developing metallics plants outside China to supply Valin Group, the usage of Tecnored technology in China; and application of green and low carbon emission technologies, including energy resources such as hydrogen, biomass and syngas.
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“This initiative contributes to Vale’s commitment to reduce 15% of net Scope 3 emissions by 2035. Additionally, Vale seeks to reduce its absolute Scope 1 and 2 emissions by 33% by 2030 and achieve net zero by 2050, in line with the Paris Agreement, leading the evolution process towards sustainable mining”, the Brazilian company said in a statement.
Hunan Valin Iron & Steel Group Co., Ltd is a conglomerate set up in 1997 by incorporating the Top 3 steelmakers in Hunan, Xiangtan Steel, Lianyuan Steel and Hengyang Steel, with two listed companies Valin Steel and Valin Cable, as well as many other subsidiaries.
Valin Group is one of the Top 10 steelmakers in China and is a leader in segmented markets like shipbuilding, marine engineering, bridges, construction machinery, automobiles and home appliances.
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“Valin made” is widely applied in more than 1000 super projects and key projects around the world, and its comprehensive competitiveness ranks “Tier 1 players” in Chinese steel industry.
Valin Group has been the largest regional-based manufacturer of wide and heavy plate globally, the largest thin gauge high-strength steel operation in Asia, the second largest seamless steel pipe supplier in China, and automotive sheet manufacturer with global leading technologies.
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