On October 28, 2024, Jinnan Steel Group announced a partnership with Vale to construct an iron ore beneficiation plant at the Port of Sohar in Oman. The facility, with an investment exceeding $600 million, will process 18 million metric tons of iron ore annually, producing 12.6 million metric tons of high-grade concentrate. Scheduled to begin operations in mid-2027, the plant aims to support sustainable mining and low-carbon solutions, enhancing local production of pellets and hot briquetted iron (HBI) while reducing environmental impact.