Abu Dhabi – Mubasher: Emirates Steel on Sunday announced signing a high value contract with Brazilian mining corporation Vale to supply iron ore pellets for its steel production in Abu Dhabi.
The deal, signed by CEO of Emirates Steel Saeed Ghumran Al Remeithi and Peter Poppinga, Vale’s executive director, lasts for four years and will end by 2021, the UAE’s largest steel producer said in a statement.
Emirates Steel’s annual requirement of iron ore pellets amounted to around 6 million tonnes.
The CEO of Emirates Steel said that the agreement with Vale aims to secure flexible source of iron ore at competitive, stable and long term prices.
“This new partnership plays a vital role to further strengthening the growth of our steel production in Abu Dhabi, as well as realising our vision of being a world class steel manufacturer providing the highest quality products, services and solutions to our customers,” Al Remeithi added.
