Vale and HBIS Group signed a Memorandum of Understanding in Beijing on Thursday to deepen collaboration on decarbonization and jointly promote the green and low carbon development of the steel industry.

The two companies intend to discuss solutions related to green and low carbon development.

"Vale is excited to sign the MOU with HBIS Group to further deepen their collaboration in this field," said Gustavo Pimenta, CEO of Vale.

"It is committed to providing high-quality mineral products and innovative solutions to support its customers in achieving their decarbonization goals," he said.

"Vale looks forward to working together with its customers to build industry demonstration projects, contribute to the green industry ecosystem, and jointly promote the green and low-carbon development of the steel industry."

Li Yiren, vice-president of HBIS Group, said Vale is one of HBIS Group's important global strategic partners and the two companies have maintained a good cooperative relationship and achieved remarkable cooperation results over a long period of time.

"The signing of the memorandum on the cooperation for decarbonization of the steel industry value chain represents a joint action by two major international enterprises in the upstream and downstream of the industrial chain to address climate change," he said.

"It has opened a brand-new chapter in the technological innovation and collaborative development of decarbonization in the steel industry value chain, and marks that the two companies have taken a new step in deepening their strategic cooperation."

Li said he hopes that the two companies will give full play to their respective advantages, contributing wisdom and strength to the sustainable development of the global steel industry.

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