India, Brazil ink steel raw materials MoU; Adani, NMDC, Vale plan iron ore SEZ

India and Brazil have signed a memorandum of understanding to strengthen cooperation in mining and minerals used in steelmaking, as Indian producers expand capacity and seek to secure longer-term access to key raw materials, according to a Feb. 21 joint statement.

Brazil ranks among the world's leading producers of iron ore and has reserves of minerals used in steelmaking, including manganese, nickel and niobium. The cooperation is expected to improve India's access to raw materials and technologies vital for sustained growth in its steel sector, the statement said.

Cooperation areas include investment in exploration, mining and infrastructure; mineral processing and recycling technologies; automation and advanced technologies in exploration and mining; use of artificial intelligence in geoscientific data analysis; and sharing best practices in mineral extraction, processing and environmental management.

India's steelmaking capacity stands at 218 million metric tons, with a target to expand to 300 million mt by 2030, and steel companies are expanding rapidly to meet rising domestic demand driven by infrastructure development and industrialization, according to the release.

The MoU will also support access to advanced technologies in mineral processing, beneficiation, recycling and data-driven exploration, the release added.

Adani, NMDC, Vale sign iron ore MoU

Adani Ports and Special Economic Zone Ltd., through its subsidiary Adani Gangavaram Port Ltd., signed a strategic MoU with state-run miner NMDC Ltd. and Brazil's Vale SA on Feb. 21 to develop an iron ore blending facility and a dedicated special economic zone at Gangavaram Port on India's east coast.

Under the MoU, the three companies will jointly develop, operate and manage an integrated SEZ-based ecosystem for blending, value addition and commercialization of iron ore. APSEZ said the initiative aims to strengthen the iron ore export value chain on India's east coast and improve efficiency and scale in mineral processing and trade.

The development will increase Gangavaram Port's capacity to up to 75 million mt, positioning it as a regional hub for iron ore exports, APSEZ said.

The collaboration also includes the development of mechanized berthing and cargo-handling facilities to accommodate Valemax large ore carriers with capacity up to 400,000 mt, as well as end-to-end yard management, blending operations and vessel discharge and loading.

APSEZ Director and CEO Ashwani Gupta said Gangavaram is "poised to become the first port in India capable of handling Valemax vessels," and the partnership aims to build a "modern, efficient, and sustainable ecosystem" for the iron ore sector on India's east coast.

Platts, part of S&P Global Energy, assessed the IODEX at $96.40/dry mt CFR North China on Feb. 20, down 10 cents/dmt from Feb. 19, in line with tradable values.