Valin Group and Vale sign Memorandum of understanding on developing steelmaking decarbonization solution

On February 23, 2022, Hunan Valin Iron and Steel Group Co., Ltd. ("Valin Group") signed a memorandum of understanding with Vale under which the two sides agreed to seek opportunities to develop ironmaking solutions focused on reducing greenhouse gas emissions.

Valin and Vale plan to jointly study and explore the feasibility of cooperation on the following issues: (1) the use of a wide variety of Vale products, including high-grade iron ore products such as pellets and fines, as well as grinding products produced in China; (2) the supply of overseas metal burden to Valin Group; (3) the use of Tecnored technology in China; (4) the use of green and low-carbon emission technologies, including the use of energy sources such as hydrogen, biomass and syngas.

This will help Valin Group to the end of the "14th five-year Plan", the carbon emission intensity per ton of steel continues to decline and is at the advanced level of the industry, to ensure that the goal of "carbon peak and carbon neutralization" is achieved as scheduled. Promote the development of product life cycle assessment, representative products to obtain the authority of "green products" and "low-carbon products" certification.

About Vale

Vale was founded in 1942 and is headquartered in Rio de Janeiro, Brazil. Vale is one of the world's most valuable metals and mineral companies and one of the world's largest producers of iron ore and nickel, as well as pellets, manganese ores, ferroalloys, copper, platinum group metals, gold, silver and cobalt. Vale operates large logistics systems in Brazil and other countries and regions of the world, including railways, maritime terminals and ports, which are integrated with mining operations. The company also has a logistics center to support the sale of iron ore around the world. In addition, Vale is involved in the energy and steel industries through direct investment and through the establishment of affiliated companies and joint ventures.

About Valin Group

Hunan Valin Iron and Steel Group Co., Ltd. ("Valin Group") is a large iron and steel enterprise group jointly established by three major iron and steel enterprises in Hunan Province of Xiangtan Iron and Steel Co., Ltd., Lianyuan Iron and Steel Co., Ltd., Hengang Hunan Iron and Steel Co., Ltd., which has jurisdiction over Valin Iron and Steel, Valin Cable and many other subsidiaries, is one of the top ten iron and steel enterprises in China. Valin Group has created a number of "invisible champions" in shipbuilding, marine engineering, bridges, construction machinery, automobiles, home appliances and other market segments. "Valin Manufacturing" is widely used in more than 1000 super projects and key projects around the world. the comprehensive competitiveness has become the "first square" of China's iron and steel industry. Valin Group has developed into the largest single wide and thick plate production enterprise in the world, the largest thin specification high strength steel production base in Asia, the second largest seamless steel pipe supplier in China and the most technologically advanced automotive plate production enterprise in the world.