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UPDATE 1-Brazil's Vale secures natural gas supply for 100% of pelletizing ops

Reuters
·1 min read

(Adds details, context)

SAO PAULO, July 1 (Reuters) - Brazilian miner Vale SA said on Friday it has signed a deal allowing it to secure natural gas supply for 100% of its pelletizing operations from 2024 as it looks to reduce carbon emissions.

According to a statement, the newly-announced deal will be focused on its Sao Luis pelletizing plant and includes natural gas supply from Eneva SA, which will be distributed by local firm Gasmar.

Eneva said in a separate securities filing the contract will last for five years.

The deal is set to allow Vale's Sao Luis plant to stop running on fuel oil when the supply starts in 2024, the mining company said, lowering costs and cutting the plant's greenhouse gas emissions by 28%.

Vale also operates pelletizing units in Oman and in the Brazilian states of Espirito Santo and Minas Gerais.

(Reporting by Gabriel Araujo; editing by Diane Craft)