Brazilian mining company Vale announced on Monday that it has been chosen by the U.S. government to initiate discussions for potential financing of a new iron ore briquette plant in the United States. According to a securities filing, Vale will engage in negotiations for funding of up to $282.9 million for the project, which was selected by the Department of Energy under a program focused on emission reduction technologies. The iron ore briquette, produced through low-temperature agglomeration of high-quality iron ore, offers a sustainable alternative to sinters, pellets, and granules in steelmaking processes, with the potential to reduce greenhouse gas emissions by up to 10% compared to traditional blast furnace methods. Vale recently launched its first iron ore briquette plant in Brazil in December and is considering additional facilities in Brazil, the Gulf of Mexico, and the Middle East as part of its strategic expansion plans in the iron ore sector.
Vale to Negotiate Financing with U.S. Government for Iron Ore Briquette Plant