The resources will be invested in the development of an iron ore briquette industrial unit
Vale USA (subsidiary of OK) was selected by the US Department of Energy to enter into financial negotiations for the development of an industrial briquette unit iron ore in the country. The product was developed by Vale over the last few decades to diversify its portfolio and meet a growing global demand for healthcare solutions energy transition. The product can reduce CO² emissions in the steel industry by up to 10%.
The funding would come under the bipartisan Infrastructure Act and the Inflation Reduction Act, as part of the Industrial Demonstration Program.
Vale will negotiate up to $282.9 million in financing for the project in the United States and will seek to develop additional, customized units in Brazil and globally, to reach approximately 100 million tons per year (Mtpa) of particleboard production from 2030, including iron. mineral briquettes and pellets.
The plant will be the first in the world to apply the patented cold agglomeration process of briquettes to the direct reduction process.
According to a statement from the mining company, the project was selected through a mechanism focused on encouraging innovative technologies that can deliver commercial-scale solutions to deliver significant emissions reductions in hard-to-abate sectors.
The briquette is produced by the low-temperature agglomeration of high-quality iron ore, using a technological solution of binders that give the final product high mechanical resistance. The first factory in the world was opened by Vale in 2023, in Vitória (ES).
Source: Terra
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