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Glencore Plc has signed an offtake agreement to acquire between 500,000 and 1.25 million tons of hot briquetted iron (HBI) annually from a planned plant in Oman, starting in 2030. The developer, Meranti Green Steel, aims to supply two-thirds of the output to European steelmakers focused on reducing emissions, while also securing partnerships with INTERFER Global Steel Trading and INTERFER Austria. The project seeks to establish Oman as a hub for cleaner steel production using natural gas and green hydrogen.