Brazilian mining giant Vale & Siderúrgica Norte Brasil has signed an agreement to create a new steel unit Marabá at in Pará state of Brazil for production of steel billets from pig iron. Under the agreement, Vale will issue guarantees to help Sinobras obtain financing for the plant and the supply of pig iron for the project will be made by Vale’s subsidiary Tecnored and Sinobras will be responsible for the engineering studies, which should be completed by the end of 2023, as well as for the construction and operation of the plant. The detailed work schedule will be presented from the engineering studies phase. The companies did not reveal how much they will invest in the new venture.Tecnored is a 100% Vale subsidiary focused on developing a low carbon pig iron process through the use of energy sources, such as biomass, syn-gas and hydrogen, that emit less CO2 than the coal and coke the tradition iron-making processes use. Using biomass, the path to economic carbon neutrality may be achieved in the medium term.Since last year, Para state legislators have been conducting an investigation, through a special commission, on the costs and benefits of mining for Pará. Lawmakers have complained that Vale invests little in the state in terms of production units and much more in its mineral extraction operations. Vale has been unveiling a series of initiatives and projects in Para as part of efforts to reduce pressure from local politicians against the company. Vale’s CEO Mr Eduardo Bartolomeo said “This initiative is part of a set of investments and commitments that Vale has made with the people of Para. Altogether, we’re investing BRL 12.2 billion (USD 2.4 billion) in projects in Para, generating around 14,000 jobs at the peak of the works.”The expansion of Sinobras activities was also one of the announcements made during the event. With the project called Sinobras phase 2, the company will more than double the production capacity of its steel plant, with an investment that includes the installation of Lamination 2, which will enable the production of 500,000 tonne per year of rolled steel in coil; and a new 230kV substation and transmission line, which will have the mission of supplying the company's new electrical load needs and providing the use of energy from the Belo Monte Hydroelectric Power Plant, of which the company is a partner as a self-producer. With this, the company will have the capacity to produce 850,000 tonne per year and will generate a peak of 600 new jobs during the implementation phase and 200 in the operational phase, in addition to producing new products such as wire rod and rebars
Brazilian mining giant Vale & Siderúrgica Norte Brasil has signed an agreement to create a new steel unit Marabá at in Pará state of Brazil for production of steel billets from pig iron. Under the agreement, Vale will issue guarantees to help Sinobras obtain financing for the plant and the supply of pig iron for the project will be made by Vale’s subsidiary Tecnored and Sinobras will be responsible for the engineering studies, which should be completed by the end of 2023, as well as for the construction and operation of the plant. The detailed work schedule will be presented from the engineering studies phase. The companies did not reveal how much they will invest in the new venture.Tecnored is a 100% Vale subsidiary focused on developing a low carbon pig iron process through the use of energy sources, such as biomass, syn-gas and hydrogen, that emit less CO2 than the coal and coke the tradition iron-making processes use. Using biomass, the path to economic carbon neutrality may be achieved in the medium term.Since last year, Para state legislators have been conducting an investigation, through a special commission, on the costs and benefits of mining for Pará. Lawmakers have complained that Vale invests little in the state in terms of production units and much more in its mineral extraction operations. Vale has been unveiling a series of initiatives and projects in Para as part of efforts to reduce pressure from local politicians against the company. Vale’s CEO Mr Eduardo Bartolomeo said “This initiative is part of a set of investments and commitments that Vale has made with the people of Para. Altogether, we’re investing BRL 12.2 billion (USD 2.4 billion) in projects in Para, generating around 14,000 jobs at the peak of the works.”The expansion of Sinobras activities was also one of the announcements made during the event. With the project called Sinobras phase 2, the company will more than double the production capacity of its steel plant, with an investment that includes the installation of Lamination 2, which will enable the production of 500,000 tonne per year of rolled steel in coil; and a new 230kV substation and transmission line, which will have the mission of supplying the company's new electrical load needs and providing the use of energy from the Belo Monte Hydroelectric Power Plant, of which the company is a partner as a self-producer. With this, the company will have the capacity to produce 850,000 tonne per year and will generate a peak of 600 new jobs during the implementation phase and 200 in the operational phase, in addition to producing new products such as wire rod and rebars
