China’s HBIS Group has partnered with Vale to promote decarbonization in the steel industry through a signed MoU. The collaboration will explore low-carbon solutions and innovative technologies aimed at reducing emissions, with both companies targeting carbon neutrality by 2050. This partnership reflects the broader trend of cooperation between steelmakers and mining corporations to combat climate change.

On Thursday, China’s HBIS Group established a memorandum of understanding (MoU) with Vale, an iron ore mining leader, to enhance decarbonization efforts within the steel value chain. The collaboration aims to identify optimal solutions for low-carbon transitions while investigating the feasibility of employing the Tecnored furnace for solid waste treatment and the extraction of valuable metals.

HBIS Chairman Liu Jian emphasized that the MoU signifies a collaborative effort between two significant global enterprises operating at both the upstream and downstream levels of the industrial chain, aimed at tackling climate change. Both HBIS and Vale have set a goal to achieve carbon neutrality by the year 2050.

Liu Jian also expressed interest in advancing innovative decarbonization technologies, including concepts related to circular economy, hydrogen metallurgy, and carbon capture, utilization, and storage (CCUS). This partnership is part of a broader trend where steel producers worldwide are seeking collaboration with mining companies to support their green transitions, given that the steel industry contributes approximately 7% to global carbon dioxide emissions.

The partnership between HBIS and Vale underscores the critical importance of collaborative efforts in decarbonizing the steel sector. With a mutual commitment to achieving carbon neutrality by 2050, both companies aim to explore innovative technologies and solutions that can significantly reduce emissions. This MoU represents a vital step in addressing the challenges posed by climate change within the industrial landscape.

Original Source: www.kitco.com

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