Trafigura Group has struck a $400-million prepayment deal for iron-ore with Mineral Resources, as the Australian miner focuses on preserving cash amid a downturn in its two main commodities.
Vale and Midrex Technologies, Inc. have agreed to cooperate in advancing a technical solution for the use of iron ore briquettes in direct reduction plants.
"Working with China will help give Fortescue a competitive advantage to achieve our decarbonization targets and has the potential to deliver massive economic opportunities in both countries."
The world's fourth-largest iron-ore miner will use green electricity from solar farms at its Christmas Creek operations in Western Australia to produce 1 500 t/y of high purity green iron.