Binding Solutions, Mitsui Unit sign MoU to produce low-carbon pellets

British technology firm Binding Solutions has entered into a Memorandum of Understanding (MoU) with Mitsui Iron Ore Development (MIOD), a Binding Solutions shareholder and a subsidiary of Japanese trading house Mitsui & Co, to collaborate in the production of low-carbon iron pellets, according to the company's announcement earlier this week.

Under the agreement, Binding Solutions will apply its proprietary technology to produce Cold Agglomerated Pellets (CAPs) using Australian Pilbara iron ore provided by MIOD. MIOD has existing partnerships with Rio Tinto in certain iron ore operations within Western Australia's Pilbara region, Mysteel Global learned. For instance, it holds a 33%