Brazilian mining company Vale has signed agreements with the Port of Duqm Company and Marafiq to develop an integrated industrial complex called the Mega Hub in the Special Economic Zone at Duqm (SEZAD) in Oman.
The agreements include a land reservation agreement between Vale and the Port of Duqm, as well as a memorandum of understanding (MoU) with Marafiq to provide utilities and services for the project. The Mega Hub aims to produce low-carbon products such as hot briquetted iron (HBI) for the steelmaking industry, with a focus on using clean energy and green hydrogen.
The signing of these agreements marks an important step for Vale in becoming a leader in sustainable mining. The Port of Duqm is well-positioned to support Vale’s expansion plans and is seen as an ideal location for major industrial projects.
The development of the Mega Hub aligns with Vale’s commitment to reducing emissions and supporting the goals of the Paris Climate Agreement. The project is expected to significantly reduce CO2 emissions by using natural gas and potentially transitioning to hydrogen and renewable energy in the future.
Vale will build and operate iron-ore concentration and briquetting plants within the hub, while other parties will be involved in constructing logistics infrastructure and operating direct reduction plants.
The Mega Hub will supply markets globally, contributing to the decarbonization of the steelmaking industry.
Source: MUSCAT DAILY
Image Source: Special Economic Zone at Duqm (SEZD)