Vale SA
Vale SA
10/06/2022 | Press release | Distributed by Public on 10/06/2022 06:26
Vale and SHS sign MoU to develop decarbonization solutions in steelmaking - Form 6-K
Vale and SHS sign MoU to develop decarbonization solutions in steelmaking
Rio de Janeiro, October 6th, 2022 - Vale S.A. ("Vale") and Germany steelmaker Stahl-Holding-Saar GmbH & Co. KGaA ("SHS") signed a Memorandum of Understanding ("MoU") to pursue solutions focused on carbon-neutral steelmaking process.
Vale and SHS intend to jointly study and explore, among other initiatives, (i) the usage of Vale's green iron ore briquettes and direct reduction pellets in steelmaking; (ii) a briquette plant located close to SHS' facilities; and (iii) the Tecnored technology.
This initiative contributes to Vale's commitment to reduce 15% of net Scope 3 emissions by 2035. Since 2021, Vale engaged with around 30 ironmaking clients representing approximately 50% of company's Scope 3 emissions. Additionally, Vale seeks to reduce its absolute Scope 1 and 2 emissions by 33% by 2030 and achieve net zero by 2050, in line with the Paris Agreement, leading the way to sustainable mining.
About SHS
SHS is an operative management holding that actively assumes tasks for the two steel companies in Saarland, Dillinger and Saarstahl. Dillinger produces steel heavy plates for sectors as steel construction, offshore and line pipes. Saarstahl is a manufacturer of high-quality wire rod and bar for the automotive and general engineering industries. The companies are ready to shape the green transition. The production of green steel is scheduled to start in Saarland in 2027. The new production route will include an electric arc furnace (EAF) at the Völklingen plant and an EAF and direct reduced iron (DRI) plant for the production of sponge iron at the Dillinger plant, in addition to the established blast furnace route.
Gustavo Duarte Pimenta
Executive Officer of Investor Relations
For further information, please contact:
Ivan Fadel: [email protected]
Mariana Rocha: [email protected]
Samir Bassil: [email protected]
This press release may include statements that present Vale's expectations about future events or results. All statements, when based upon expectations about the future, involve various risks and uncertainties. Vale cannot guarantee that such statements will prove correct. These risks and uncertainties include factors related to the following: (a) the countries where we operate, especially Brazil and Canada; (b) the global economy; (c) the capital markets; (d) the mining and metals prices and their dependence on global industrial production, which is cyclical by nature; and (e) global competition in the markets in which Vale operates. To obtain further information on factors that may lead to results different from those forecast by Vale, please consult the reports Vale files with the U.S. Securities and Exchange Commission (SEC), the Brazilian Comissão de Valores Mobiliários (CVM) and in particular the factors discussed under "Forward-Looking Statements" and "Risk Factors" in Vale's annual report on Form 20-F.