Vale and Posco will study emission reduction technologies
Vale has signed a memorandum ofunderstanding (MoU) with South Korean steelmaker Posco to jointly explore anddevelop CO2 emissions reduction technologies in steelmaking.
Potential solutions for reducingfossil fuel consumption include Vale’s high-grade iron ore products such aspellet, fines and briquettes.
“The steel and mining industry arealready under transformation to develop low-carbon solutions, and we are happyto be with Posco on this project,” says Vale vice president and director offerrous metals Marcello Spinelli. “The decarbonisation pathway definition willbe 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 andworld-class portfolio and innovative technologies.”
According to Posco director of steelbusiness Hagdong Kim, the agreement will create more synergy between bothcompanies towards carbon neutrality.
Vale estimates it will achieve itscommitment to reduce 15% of net Scope 3 emissions by 2035. This is along withthe company’s Scope 1 and 2 emissions reductions of 33% by 2030 and itsplan to achieve climate neutrality by 2050.
Edit: Yuan Hui