Máximo Vedoya, Ternium's CEO, and Eduardo Bartolomeo, Vale's CEO.
Ternium signed a memorandum of understanding with Vale agreeing to seek opportunities to develop steelmaking solutions focused on reducing CO2 emissions.
Mr. Máximo Vedoya, Ternium’s Chief Executive Officer said: “This is an important step in our decarbonization strategy as it contributes to achieving Ternium’s commitment to reduce by 20% its CO2 emission intensity by 2030. Ternium's decarbonization roadmap was announced in February 2021.
"Vale is a key supplier in our value chain, and they share our commitment to preserving the environment. I believe we will have many opportunities to develop joint initiatives to continue decarbonizing our operations in the future. Carbon neutrality is a goal that can only be achieved if all parts of society work together. As Latin America’s leading flat steel producer, we are going to do our part in this endeavor,” Vedoya added.
Ternium and Vale intend to develop economic feasibility studies of potential investments in:
- an iron ore briquetting plant located at Ternium Brasil facility.
- plants to produce metallic products with low carbon footprint, using Tecnored, HYL and other technologies for iron reduction.
Tecnored is a Vale's subsidiary focused on developing a low carbon pig iron process through the use of energy sources, such as biomass and syn-gas, that emit less CO2 than the coal and coke the tradition iron-making processes use.
HYL is a low carbon iron ore direct-reduction technology developed by Ternium in Mexico. This technology, which is currently operating at Ternium’s facilities in Monterrey and Puebla, Mexico, has the ability to selectively recover CO2 , thus significantly reducing carbon emissions compared to other reduction technologies.
Mr. Máximo Vedoya, Ternium’s Chief Executive Officer and Mr. Eduardo Bartolomeo, Vale’s Chief Executive Officer, attended the MoU signing ceremony on August 18th, 2021.
Read more details in the press release by clicking here.
Ternium's Industrial Center at Rio de Janeiro, Brazil.