A memorandum of understanding was signed on the sidelines of the Future Mineral Forum with the Royal Commission for Jubail and Yanbu, the region where an iron ore briquettes project will be implemented.
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Saudi Arabia’s Public Investment Fund deployed USD 31.6 billion across deals in various countries, including Brazil.
The Brazilian mining company plans to sell four million tonnes of iron ore agglomerates yearly to the Saudi Arabian Green Steel Arabia project.
The Brazilian company signed memorandums in Saudi Arabia, the United Arab Emirates and Oman to study implementing hubs focused on low-carbon steelmaking products.