RIYADH, UAE, Jan. 11, 2024 /PRNewswire/ — Vale, a global leader in sustainable mining, recently showcased its ambitious plans in the Middle East during its participation in the Future Minerals Forum (FMF) in the Kingdom of Saudi Arabia. The event marked an integral milestone in Vale’s journey in the region, spotlighting the upcoming state-of-the-art Mega Hub project in the Kingdom as a crucial part of its strategy to decarbonize the steelmaking industry.
An MoU between Vale and the Royal Commission for Jubail and Yanbu was also signed during the Forum, taking one step closer towards the realization of Vale’s Iron Ore Briquettes Project in the Kingdom.
Eduardo Bartolomeo, CEO of Vale took part in a senior panel discussion on “Making Africa, Western & Central Asia processing and manufacturing hubs” where he detailed the technological innovations and advancements planned within the Mega Hub in Ras Al-Khair Industrial City. The large industrial complex that which will include a briquetting plant, operated by Vale, will produce high-quality agglomerated products to feed the production of HBI, significantly reducing CO2 emissions by 60% to supply both local clients and international markets around the world.
Vale’s Base Metals Chairman, Mark Cutifani, and Chief Sustainability and Corporate Affairs, Emily Olson, also joined the conversations on two other panels, showcasing the boundless potential of this Mega Hub as the Kingdom forges ahead in its strategy to become a world leading industrial powerhouse in line with its Vision 2030. Catalyzing the Kingdom’s ambitions in the mining industry and in energy transition, both regionally and globally, Vale’s initiatives will enable the development of a green steel industry in the country by securing the high-grade iron ore for steel producers. This will directly feed into several of the strategic objectives outlined in the National Industrial Development and Logistics Program.
Beyond its economic impact on the communities where it operates, Vale’s in-country value contributions have been exponential. Today, the company’s substantial investments in the region, total $1.2 billion in supply chain development, over $10 million in sustainability and social responsibility projects, and $87 million in eco-friendly operations. “We are committed to driving sustainable development and creating a better future for all,” remarked Bartolomeo.
Vale’s participation in the FMF underscores its pivotal role in the region’s sustainable mining sector. Emphasizing its Mega Hub project and commitment to net-zero emissions, Vale demonstrated a strong alignment with Saudi Arabia’s Vision 2030. Their innovative approach and significant regional investments mark a new era of eco-friendly steel production in the Kingdom, reinforcing their mutual dedication to a sustainable future.