Monday, 29 Aug 2011
Usinas Siderurgicas de Minas Gerais SA the Brazilian steelmaker aiming to quadruple its iron ore production, stands to gain the most from an auction for a USD 1 billion port terminal to be built in Rio de Janeiro state.
The state government will take bids later this year for a lease on the so-called Area do Meio, an area equal to about 30 soccer fields, from companies that want to ship the ore, Brazil’s top export.
Usiminas, as the company is known, has confirmed it will participate and has the most ambitious plans to boost ore output of any publicly traded company that doesn’t have a dedicated iron-ore port built or under construction.
Other bidders may include Cia Siderurgica Nacional SA, the third biggest Brazilian steelmaker by output and MMX Mineracao & Metalicos SA, the iron ore producer controlled by Brazilian billionaire Eike Batista.
(sourced from Bloomberg)
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