Glencore Signs Offtake Agreement for 500,000 Tons of HBI from Oman Plant
Glencore Plc has signed an offtake agreement to acquire between 500,000 and 1.25 million tons of hot briquetted iron (HBI) annually from a planned plant in Oman, starting in 2030. The developer, Meranti Green Steel, aims to supply two-thirds of the output to European steelmakers focused on reducing emissions, while also securing partnerships with INTERFER Global Steel Trading and INTERFER Austria. The project seeks to establish Oman as a hub for cleaner steel production using natural gas and green hydrogen.
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Glencore Plc has entered into an offtake agreement to purchase 500,000 to 1.25 million tons annually of hot briquetted iron (HBI) from a planned plant in Oman, starting in 2030. Meranti Green Steel, the developer, expects two-thirds of the output to supply European steelmakers aiming to reduce emissions.
Meranti has also secured agreements with INTERFER Global Steel Trading and INTERFER Austria, while discussions are ongoing with thyssenkrupp Materials Services. The Oman project aims to position the region as a hub for cleaner steel inputs, utilizing a combination of natural gas and green hydrogen.
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