Brazil’S Vale Signs Mou For Project In Saudi Arabia

2024-01-15 02:19:24

(MENAFN- Brazil-Arab News Agency (ANBA)) São Paulo – Brazilian mining company Vale and the Royal Commission for Jubail and Yanbu in Saudi Arabia on Thursday (11) signed a memorandum of understanding for the development of an iron ore briquettes project in the Arab country. Saudi newspaper Arab News reported on Friday (12) that the MoU was signed on the sidelines of the Future Minerals Forum that is held in Riyadh, Saudi capital city. (Pictured, a Vale operation in Brazil's Pará.)

Vale CEO Eduardo Bartolomeo spoke in a panel discussion, highlighting the technological innovations and advancements planned within the Mega Hub in Ras Al-Khair Industrial City. Vale said that its participation at the forum underscored the company's role in the region's sustainable mining sector, adding that it demonstrated a alignment with Saudi Arabia's Vision 2030. The Brazilian mining company has had a plant in Sohar, Oman, since 2007.

Last September, Vale had signed a letter of intention to operate in Saudi Arabia in a partnership with an Indian group. Under that agreement, the project was to establish a plant in Ras al-Khair to produce briquettes and pellets. Briquettes are iron ore agglomerates whose production emits 10% less CO2 compared to traditional processes.

Translation by Guilherme Miranda

@Mauro Pimentel/AFP

The post Brazil's Vale signs MoU for project in Saudi Arabia appeared first on Agência de Notícias Brasil-Árabe .

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