Brazilian mining company Vale SA logo and trading symbol are displayed on a  screen at the New York Stock Exchange (NYSE) in New York, US, Dec 6, 2017.  [Photo/Agencies]

Vale, one  of the world's largest iron ore producers based in Brazil, said on Tuesday it  has signed a memorandum of understanding with Jiangsu Shagang Group Co Ltd to  pursue opportunities to develop steelmaking solutions focused on reducing carbon  dioxide emissions.

The two  sides will develop economic feasibility studies on usage of products with lower  carbon footprints in the iron-making process, Vale said.

This  initiative contributes to achieving Vale's commitment to reduce client and  supplier emissions by 15 percent by 2035. The company will further engage with  its value chain through partnerships for the development of low-carbon  technologies, especially with customers in the steel sector, it said  earlier.

Jiangsu  Shagang, a Chinese steel producer and service supplier, currently has five  production sites, mainly located in Jiangsu, Liaoning and Henan provinces. Its  wide range of steel products are exported to more than 100 countries and regions  around the world and widely used in infrastructure, manufacturing, high-end  equipment and consumption.