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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.