The Brazilian subsidiary of Luxembourg-headquartered stainless steel producer Aperam has secured a $270 million loan to enhance its charcoal production operations. The funding aims to support sustainable production practices by expanding the company's plantation forests in Minas Gerais state and upgrading technology in its charcoal furnaces. This charcoal serves as a substitute for coke in blast furnaces, achieving near-zero net CO2 emissions by capturing CO2 through the growth of new tree generations.

Aperam also plans to utilize the financial resources to produce biological oil from charcoal production residues, replacing synthetic fuels to further reduce emissions. These measures align with the company's mission to innovate and promote circular economy practices while reducing its carbon footprint.