Posted on 08 Nov 2021
Vale has signed a memorandum of understanding (MoU) with South Korean steelmaker Posco to jointly explore and develop CO2 emissions reduction technologies in steelmaking, Kallanish notes.
Potential solutions for reducing fossil fuel consumption include Vale’s high-grade iron ore products such as pellet, fines and briquettes.
“The steel and mining industry are already under transformation to develop low-carbon solutions, and we are happy to be with Posco on this project,” says Vale vice president and director of ferrous metals Marcello Spinelli. “The decarbonisation pathway definition will be critical to set how the industry will meet the Paris Agreement’s targets, and Vale is well-positioned to lead the industry with a high-quality and world-class portfolio and innovative technologies.”
According to Posco director of steel business Hagdong Kim, the agreement will create more synergy between both companies towards carbon neutrality.
Vale estimates it will achieve its commitment to reduce 15% of net Scope 3 emissions by 2035. This is along with the company's Scope 1 and 2 emissions reductions of 33% by 2030 and its plan to achieve climate neutrality by 2050.
Source:Kallanish
