Vale Establishes Partnership with China in 7 Agreements to Celebrate 50th Anniversary of First Export to the Country

Written by Bruno Teles

Published on 29/03/2023 at 17:30

Vale (foto/divulgação)

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On Wednesday (29), Vale announced the signing of seven agreements with various Chinese partners to strengthen its strategic agenda and enhance relations with China.

The announcement was made at the Brazil-China Business Symposium, held in Beijing by Brazilian and Chinese authorities. Alexandre Silva D’Ambrosio, executive vice president of Corporate and Institutional Affairs at Vale, attended the seminar.

Agreement Celebrates the First Export to China

The announcements include an investment agreement for the Morowali project in Indonesia; two agreements with a Chinese customer and a Chinese supplier in support of the company’s decarbonization agenda; two comprehensive strategic cooperation MoUs with major Chinese banks; and two other agreements to strengthen cooperation with Chinese universities. The agreements were made as Vale celebrated the 50th anniversary of its first iron ore export to China in 1973.

“As a partner of China for 50 years and a reliable supplier of raw materials for the Chinese steel industry, Vale has a long-term commitment to the Chinese market”, said Alexandre Silva D’Ambrosio. “We will continue to provide the country with high-quality iron ore products to support the continued development of its economy and further deepen our strategic partnerships in sustainable mining and low-carbon solutions.”

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Investment in the Indonesian Project

Vale’s subsidiary in Indonesia (PT Vale Indonesia), along with Taiyuan Iron & Steel Co., Ltd. (Tisco) and Shandong Xinhai Technology Co., Ltd., has signed an investment agreement to build a nickel iron processing plant with a rotary kiln electric furnace (RKEF) and supporting facilities with an annual production of over 73,000 tons in Morowali, Indonesia.

The project will be powered by gas power generation and is expected to become a green and low-carbon project. Taiyuan Iron and Steel Co., Ltd. is a world-renowned stainless steel producer and is part of Baowu, China’s largest state-owned steel company.

Vale and Biochar

Vale announced the signing of a cooperation agreement with Baosteel, a subsidiary of China Baowu, to jointly develop the application of biochar in the steel industry. Biochar is produced from biomass and is considered a substitute for coal in the steelmaking process, with the potential to reduce carbon emissions.

Although there are no industrial applications of biochar in steel mills in China yet, the industry has adopted biomass energy as a strategic technological route for low-carbon metallurgy. It is vital for Vale to be involved in the development of this technology, which will contribute to its goal of reducing Scope 3 emissions by 15% by 2035.

Vale Establishes Partnership with China in 7 Agreements to Celebrate 50th Anniversary of First Export to the Country

On Wednesday (29), Vale announced the signing of seven agreements with various Chinese partners to strengthen its strategic agenda and enhance relations with China.

Agreement Celebrates the First Export to China

Investment in the Indonesian Project

Vale and Biochar

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Vale Establishes Partnership with China in 7 Agreements to Celebrate 50th Anniversary of First Export to the Country

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Agreement Celebrates the First Export to China

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