H2 Green Steel Signs Iron-Ore Supply Deals With Rio Tinto and Vale
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.-
Six Sports Betting and iGaming Stocks Trading at a Discount
-
4 Predictions for Stocks and the Economy for the Second Half of 2024
-
What Broadening Rally? AI Stocks Dominate Again In Q2
-
After Earnings, Is Nike Stock a Buy, a Sell, or Fairly Valued?
-
Worst-Performing Stock ETFs of the Quarter
-
Top-Performing Stock ETFs of the Quarter
-
Q2 In Review and Q3 2024 Market Outlook
-
5 Stocks to Buy for 3Q 2024
-
Industrials: Sector Offers Investment Opportunities as Performance Lags Broader Market
-
Consumer Defensives: Even Amid Macro Pressures, Deals Permeate the Landscape
-
33 Undervalued Stocks
-
Utilities: Can the Stocks Keep the Rally Going?
-
Basic Materials: Following Index Decline, We See Many Long-Term Opportunities
-
Healthcare: Valuations Look Attractive In Most Industries
-
Financial Services: Amid Uncertainties, We See the Most Value In Banks and Credit Services
-
Consumer Cyclicals: Even With Anxiety Over Spending, We See Attractive Valuations