The agreement pairs Midrex Technologies’ direct reduction technology with the iron ore resources of Vale SA and the reach of global trading and investment company Mitsui & Co. Ltd.

“This initiative fits with the vision and mission of both Kobe Steel and Midrex. Kobe has a history of various product initiatives to support the pathway to greenhouse gas reduction,” Midrex said in a statement. 

“Climate change is a challenge for which all four companies are committed to help solve. Kobe Steel and Midrex, alongside Vale and Mitsui & Co., will utilize the collective strengths of their products, people and technologies to drive this initiative and meet the challenge,” the company said.