Brazilian miner Vale has entered into a non-binding agreement with Japanese companies Kobe Steel and Mitsui to form a low-emission steel joint venture, it said in a filing to Brazil's securities commission CVM on Monday July 13.
Vale will supply metallic and steelmaking solutions with low greenhouse gas emissions to both steelmakers, it added. The final approval for the new venture is subject to an evaluation period, already in effect to increase cooperation and gauge demand for that kind of service, Fastmarkets understands.Vale is the world's largest iron ore producer, with...