Vale, Kobe, Mitsui enter agreement for potential 'low-emission' steel JV

Brazilian miner Vale has entered into a non-binding agreement with Japanese companies Kobe Steel and Mitsui to form a low-emission steel joint venture, it said in a filing to Brazil’s securities commission CVM on Monday July 13.

Vale will supply metallic and steelmaking solutions with low greenhouse gas emissions to both steelmakers, it added. The final approval for the new venture is subject to an evaluation period, already in effect to increase cooperation and gauge demand for that kind of service, Fastmarkets understands.
“Steel production, while essential for people’s daily lives, generates considerable carbon dioxide emissions,” the Brazilian mining company said. “Vale is committed to contributing with its steelmaking clients in the challenge of reducing [our] carbon footprint.”

Vale is the world’s largest iron ore producer, with...

Published

Renato Rostás

July 13, 2020

17:20 GMT

São Paulo