H2 Green Steel Signs Iron-Ore Supply Deals With Rio Tinto and Vale
August 09 2023 - 5:59AM
Dow Jones News
By Dominic Chopping
STOCKHOLM--H2 Green Steel said Wednesday that it has signed
multi-year supply agreements with Rio Tinto and Vale for iron-ore
pellets from Canada and Brazil for use in its green-steel
production in Sweden.
H2 Green Steel is building a new plant in northern Sweden and
plans to produce steel by replacing coal with green hydrogen that
is produced using fossil-free energy.
Iron ore in pelletized form, along with green hydrogen from H2
Green Steel's own electrolyzer facility, are critical input
materials for green iron production, which will then be used to
make near-zero emissions steel at its new steel plant.
The company said it has also signed an additional agreement that
will see Rio Tinto purchase and on-sell some of the surplus
low-carbon iron produced by H2 Green Steel during the ramp-up of
its steelmaking capacity.
Financial details weren't disclosed.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
August 09, 2023 06:44 ET (10:44 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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