Australia, UK Team Up to Back Clean Energy Technologies

British Prime Minister Keir Starmer during a TV interview at the Commonwealth Heads of Government Meeting, in Samoa. Picture date: Friday, October 25, 2024. Stefan Rousseau/Pool via REUTERS
British Prime Minister Keir Starmer during a TV interview at the Commonwealth Heads of Government Meeting, in Samoa. Picture date: Friday, October 25, 2024. Stefan Rousseau/Pool via REUTERS
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Australia, UK Team Up to Back Clean Energy Technologies

British Prime Minister Keir Starmer during a TV interview at the Commonwealth Heads of Government Meeting, in Samoa. Picture date: Friday, October 25, 2024. Stefan Rousseau/Pool via REUTERS
British Prime Minister Keir Starmer during a TV interview at the Commonwealth Heads of Government Meeting, in Samoa. Picture date: Friday, October 25, 2024. Stefan Rousseau/Pool via REUTERS

Australia and Britain plan to work together to ramp up the deployment of renewable energy technologies, such as green hydrogen and offshore wind, to support decarbonization, the two countries' leaders said on Friday.
The transition to net zero would open up economic opportunities creating new jobs and bolster the industrial base of both countries, Australian Prime Minister Anthony Albanese and UK Prime Minister Keir Starmer said in a joint statement.
According to Reuters, their statement did not mention how much funding they would commit to clean energy.
"This partnership will ... build on our long-standing cooperation on international climate action and shared commitment to reach net zero emissions by 2050," Albanese said after meeting Starmer on the sidelines of the Commonwealth Heads of Government Meeting (CHOGM) in Apia, Samoa.
Both leaders announced grant recipients for their renewable hydrogen innovation partnership, which will support six projects focused on industrial decarbonization.
The prime ministers also said the AUKUS defense pact between Australia, the United States and Britain would boost security in the Indo-Pacific.
The AUKUS defense pact signed in 2021 will see Australia buy up to five nuclear-powered submarines from Washington in the early 2030s before jointly building and operating a new class, SSN-AUKUS, with Britain, roughly a decade later.
Albanese and Starmer reaffirmed their commitment to negotiate a bilateral treaty to develop the SSN-AUKUS submarine.
"Together, we're delivering better futures for our two countries, whether that's through protecting our national security with projects like AUKUS or delivering on our net zero commitments," Starmer said.
The Commonwealth meeting began this week with King Charles, the head of the grouping of 56 countries most with roots in Britain's empire, attending.
Climate change threats are a central topic of the talks, as more than half of the Commonwealth's members are small nations, many of them low-lying islands at risk from rising sea levels caused by climate change.



Vale Partners with China’s Jinnan Steel to Build Iron Ore Processing Plant in Oman

The logo of the Brucutu mine owned by Brazilian mining company Vale SA is seen in Sao Goncalo do Rio Abaixo, Brazil February 4, 2019. (Reuters)
The logo of the Brucutu mine owned by Brazilian mining company Vale SA is seen in Sao Goncalo do Rio Abaixo, Brazil February 4, 2019. (Reuters)
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Vale Partners with China’s Jinnan Steel to Build Iron Ore Processing Plant in Oman

The logo of the Brucutu mine owned by Brazilian mining company Vale SA is seen in Sao Goncalo do Rio Abaixo, Brazil February 4, 2019. (Reuters)
The logo of the Brucutu mine owned by Brazilian mining company Vale SA is seen in Sao Goncalo do Rio Abaixo, Brazil February 4, 2019. (Reuters)

Brazilian miner Vale, one of the world's largest iron ore producers, said on Monday it had partnered with China's Jinnan Steel Group to build an iron ore beneficiation plant in Oman to produce high quality pellet.

With the front-end investment exceeding $600 million, the plant, which will be located in Oman's Sohar port and free trade zone, will provide higher quality iron ore for producing pellet and hot briquetted iron (HBI) locally, reducing environmental impact, Vale said in a statement on its WeChat account.

The Sohar plant is scheduled to start commissioning in mid-2027, processing 18 million metric tons of iron ore annually to produce 12.6 million tons of high grade concentrate, it said.

"We are strengthening our capability to meet rising global demand for high grade iron ore and further expand our exposure in the Middle East region," said Gustavo Pimenta, chief executive officer (CEO) at Vale.

Vale will invest $227 million for the connection of the beneficiation plant and the pellet and HBI production facility while Jinnan Steel, a private steelmaker headquartered in north China's Shanxi province, will invest about $400 million for the building and the operation of the plant.

Vale did not disclose the equity share held by each party.