Vale (NYSE: VALE) expects to start building “mega hubs” to make low-carbon iron ore products for the steel industry in the next six months to a year, the Brazilian miner said on Thursday.

World crude steel production for the 71 countries reporting to the World Steel Association (worldsteel) was 161.4 million tonnes (Mt) in June 2024, a 0.5% increase compared to June 2023.

As of July 15, the cumulative trading volume of carbon allowances in the national carbon market reached 465 million tons.

"It's important we actually continue that good trading relationship that's been mutually beneficial for both countries," he said.

Staff are predominantly engaged in data monitoring, enabling the workshop to function seamlessly, even in the dark.

Anglo American's South African iron ore unit said on Tuesday it continues to build stockpiles at its mines due to persistent rail and port constraints.

During INNOPROM-2024, agreements were signed for the construction of new facilities for the recycling of electrical and electronic equipment waste and metal recycling in the Rostov Region with a total investment of 8 billion rubles.

The Economic Survey for 2023-24 underscores the pivotal role of green steel in the future of the industry as the global economy shifts towards reducing carbon emissions.