Mining giant Vale and Brazil's top commercial port have signed an agreement to study the potential construction of a facility in Rio de Janeiro state that would produce low-carbon iron-ore products, port executives told Reuters. Vale's deal with the Acu port, Latin America's largest, follows the Brazilian miner's efforts to develop a so-called hot briquette iron (HBI) plant that would make high iron content compact bricks that could supply steel mills in the country looking to manufacture low-carbon steel.
RIO DE JANEIRO - Mining giant Vale and Brazil's top commercial port have signed an agreement to study the potential construction of a facility in Rio de Janeiro state that would produce low-carbon iron-ore products, port executives told Reuters.
The complex with at least one plant, could attract $1-billion for the construction of an HBI plant, and start operating at the port by 2028 with an annual HBI output capacity of around 2.5-million metric tons, according to Prumo Logistica, the firm that runs Port do Acu. HBI is seen as an important intermediate steel product to reduce harmful emissions since it eliminates the need to use dirty coke or coal in steel manufacturing, which accounts for around 8% of global carbon dioxide emissions.
The HBI production would likely be powered by natural gas in a project led by Norway's Equinor possibly serving as a key supplier of the fuel, according to Prumo.
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