{"id":74638,"date":"2022-11-03T01:57:45","date_gmt":"2022-11-03T01:57:45","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2022\/11\/03\/brazils-vale-kicking-tires-on-usd-1-bn-green-steel-plant-in-ksa\/"},"modified":"2022-11-03T01:57:45","modified_gmt":"2022-11-03T01:57:45","slug":"brazils-vale-kicking-tires-on-usd-1-bn-green-steel-plant-in-ksa","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2022\/11\/03\/brazils-vale-kicking-tires-on-usd-1-bn-green-steel-plant-in-ksa\/","title":{"rendered":"Brazil\u2019s Vale kicking tires on USD 1 bn \u2018green\u2019 steel plant in KSA"},"content":{"rendered":"

<\/a> Brazil and KSA explore green iron production in Saudi:<\/strong> Saudi Arabia\u2019s National<\/a>Industrial Development Center<\/a> (NIDC) and Brazilian mining group Vale<\/a> signed an MoU during Saudi Arabia\u2019s Future Investment Initiative last month to study establishing on a USD 1.1 bn iron ore pellet \u201cmega hub,\u201d S&P Global<\/a> reports, citing the NIDC.<\/p>\n

The details: <\/strong>The plant would produce 4 mn tons of iron ore pellets annually in KSA\u2019s Ras Al-Khair industrial zone, S&P Global reports. Vale will build and operate the iron ore concentration and briquetting<\/a> plants within the hubs while companies in KSA will land contracts to build out logistics infrastructure, according to a company statement<\/a>. Timelines for construction and funding details are yet to be announced.<\/p>\n

How is the ore green?<\/strong> Vale produces hot briquetted iron using natural gas, emitting up to 60% less carbon, and the replacement of natgas with hydrogen, coupled with the use of renewable energy, could eliminate carbon emissions altogether, according to the statement.<\/p>\n

KSA\u2019s steel production is ramping up: <\/strong>The Kingdom\u2019s crude steel production increased by 3.1% y-o-y in 9M 2022, S&P reports, citing figures from the World Steel Association<\/a>. Saudi Arabia currently has a capacity of 16 mn tons per year, which it produces via a process called Direct Reduced Iron<\/a>. The new plant will increase the peninsula\u2019s steel capacity to drive the construction and industry sectors forward.<\/p>\n

Regional plans in the pipeline<\/strong>: The mining company also has separate MoUs with the UAE and Oman. Vale will study the feasibility for iron ore pellet mega hubs with the UAE\u2019s Steel Arkan (ESA)<\/a> \u2014 which has been trying to \u201cgreenify\u201d the steel industry<\/a> \u2014 and with Oman\u2019s Commerce and Industry Ministry.<\/p>\n","protected":false},"excerpt":{"rendered":"

Brazil and KSA explore green iron production in Saudi: Saudi Arabia\u2019s NationalIndustrial Development Center (NIDC) and Brazilian mining group Vale signed an MoU during Saudi Arabia\u2019s Future Investment Initiative last month to study establishing on a USD 1.1 bn iron ore pellet \u201cmega hub,\u201d S&P Global reports, citing the NIDC. The details: The plant would […]<\/p>\n","protected":false},"author":1,"featured_media":74639,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[257],"tags":[74,155,11,189,1206,196,159,216],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-74638","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-decarbonization","tag-decarbonization","tag-emissions","tag-enterpriseclimate","tag-green-industry","tag-iron","tag-mining","tag-saudi-arabia","tag-steel","wpautop","entry"],"acf":{"mongo_id":"dacda7ad-b77b-4be5-9188-3528526b684a","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/9\/2437.jpg","photo_position":"above","related_issue":[74631],"teaser":"","voice_url":""},"yoast_head":"\nBrazil\u2019s Vale kicking tires on USD 1 bn \u2018green\u2019 steel plant in KSA - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/03\/brazils-vale-kicking-tires-on-usd-1-bn-green-steel-plant-in-ksa\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Brazil\u2019s Vale kicking tires on USD 1 bn \u2018green\u2019 steel plant in KSA\" \/>\n<meta property=\"og:description\" content=\"Brazil and KSA explore green iron production in Saudi: Saudi Arabia\u2019s NationalIndustrial Development Center (NIDC) and Brazilian mining group Vale signed an MoU during Saudi Arabia\u2019s Future Investment Initiative last month to study establishing on a USD 1.1 bn iron ore pellet \u201cmega hub,\u201d S&P Global reports, citing the NIDC. 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