In a statement, Vale said the fund, Vale Ventures, will take minority positions in startups focused on decarbonizing the mining value chain; zero-waste mining; energy transition metals; and disruptive technologies that can change how miners operate. 

“We will collaborate with forward-thinking startups bringing big ideas and bold thinking to these monumental challenges,” said Viktor Moszkowicz, head of Vale Ventures. “By creating a portfolio of disruptive solutions, we can generate financial and strategic return, and bring new business opportunities, insights, and knowledge to our company, customers and society.”