VALE - Vale's Partnership With DOE Signals Domestic Shift Toward Sustainable Steel Production | Benzinga
Brazilian mining giant Vale (NYSE:VALE) has announced a deal with the Department of Energy (DOE) to develop a new iron ore briquette plant in the U.S.
The DOE has selected the project for potential financing of up to $282.9 million, underscoring a growing domestic commitment to innovative technologies aimed at reducing carbon emissions and strengthening the clean energy sector.
The Biden administration allocated substantial funds towards environmental programs, including over $2.9 billion for climate-related initiatives for the Environmental Protection Agency (EPA) and $10.6 billion for DOE climate and clean energy research.
Such investments pave the way for transformative technologies like the iron ore briquette, which has the potential to reduce emissions by up to 10% compared to traditional steelmaking processes.
Central to this endeavor is the development of iron ore briquettes—a product generated ...