Team News Riveting
New Delhi, February 21
The Ministry of Steel, Government of India and the Ministry of Mines and Energy of the Federative Republic of Brazil today signed a Memorandum of Understanding (MoU) to enhance cooperation in the field of mining and minerals required for the steel sector.
The MoU was exchanged in the presence of Shri Narendra Modi, Prime Minister of India and H.E. Luiz Inácio Lula da Silva, President of Brazil at Hyderabad House, New Delhi.
The MoU provides an institutional framework for strengthening bilateral cooperation across the steel value chain, with a focus on promoting reliable and sustainable development of key raw materials required for steel production.
The cooperation will focus on:
- Attracting investment in exploration, mining, and infrastructure development in steel sector
- Processing and recycling technologies for minerals
- Automation and the use of advanced technologies in exploration and mining
- Use of artificial intelligence in geoscientific data analysis to enhance exploration processes
- Best practices in mineral extraction, processing, and environmental management
Brazil is among the world’s leading producers of iron ore and possesses significant reserves of minerals critical to steelmaking, including manganese, nickel and niobium. Enhanced cooperation with Brazil is expected to improve access to key raw materials and technologies necessary for sustaining long-term growth of India’s steel sector.
India currently has a steelmaking capacity of 218 million tonnes. To meet growing domestic demand driven by infrastructure development and industrialisation, Indian companies are undertaking significant expansion in steelmaking capacity. In this context, this MoU is an important step towards strengthening cooperation for development of mineral resources required for steel production, facilitating access to advanced technologies in mineral processing, beneficiation, recycling and data-driven exploration.
This partnership will support efficient preparation of steelmaking inputs, enable technology-led improvements across the steel value chain and strengthen resilience and sustainability of the India–Brazil steel supply chain.
