Brazilian iron ore mining giant Vale and Chinese Hunan Valin Iron & Steel Group have signed a Memorandum of Understanding to pursue ironmaking solutions focused on reducing CO2 emissions. Vale and Valin Group intend to jointly study and explore the feasibility of cooperation on(i) Usage of Vale’s wide range of product portfolio, as high-grade iron ore products like pellets and fines, including products processed in grinding facilities in China(ii) Metallics plants outside China to supply Valin Group(iii) Usage of Tecnored technology in China(iv) Application of green and low carbon emission technologies, including energy resources such as hydrogen, biomass and syngasHunan Valin Iron & Steel Group Co, Ltd is a conglomerate set up in 1997 by incorporating the Top 3 steelmakers in Hunan, Xiangtan Steel, Lianyuan Steel and Hengyang Steel, with two listed companies Valin Steel and Valin Cable, as well as many other subsidiaries. Valin Group is one of the Top 10 steelmakers in China. Valin Group is leading teel upplier to shipbuilding, marine engineering, bridges, construction machinery, automobiles, home appliances etc.This initiative contributes to Vale’s commitment to reduce 15% of net Scope 3 emissions by 2035. Additionally, Vale seeks to reduce its absolute Scope 1 and 2 emissions by 33% by 2030 and achieve net zero by 2050, in line with the Paris Agreement, leading the evolution process towards sustainable mining.