Saturday, 14 Jan 2012
Dow Jones reported that Brazilian steelmaker and iron ore miner Companhia Siderurgica Nacional SA study the possibility of declaring force majeure on shipments from its iron ore operations in Minas Gerais state, southeast Brazil on heavy rains.
(Sourced from Dow Jones)
Showing posts with label Companhia Siderurgica Nacional (CSN). Show all posts
Showing posts with label Companhia Siderurgica Nacional (CSN). Show all posts
Saturday, January 14, 2012
Thursday, November 3, 2011
Rio Tinto calls for river based solution to transport coal from Moatize
Thursday, 03 Nov 2011
According to Mr Eric Finlayson CEO of Rio Tinto Coal Mozambique, Rio Tinto considers using the Zambezi River to transport coal from Tete to be a better solution than the Nacala railroad.
Mr Finlayson during a visit by the President of Mozambique to Rio Tinto’s facility in the Karratha region, some 1,300 kilometres from the city of Perth, said that the Zambezi was an interesting alternative to the Nacala railroad as the distance between Moatize and the port was 900 kilometres by rail and only 500 kilometres by river.
The two options are a solution to the low transport capacity of the Sena railroad, with a current maximum of 6 million tonnes per year and Brazilian mining company Vale plans to invest in the construction/repair of the railroad between Moatize and the port of Nacala.
Mr Finlayson, cited by the Mozambican press as saying that “Coal resources of billions of tonnes are being developed by Rio Tinto and by Vale, amongst other companies, and the railroad from Moatize to Beira is the only operational facility for transporting the coal and massive investment is needed in infrastructure to achieve significant levels of production.”
During the visit, President Armando Guebuza watched the process of unloading trains, transport of the ore on a conveyor belt to the warehouse, amongst other operations and also visited other facilities.
The chief executive of Rio Tinto, Doug Ritchie, gave the Mozambican government assurances that his company had the technical and financial capacity to carry out the coal project in the central province of Tete successfully.
The Rio Tinto group took ownership of the Mozambican mining assets of Australia’s Riversdale Mining following a takeover bid that ended with the acquisition of the stakes owned by India’s TATA Steel and Brazil’s Company Companhia Siderúrgica Nacional.
(Sourced from macauhub)
According to Mr Eric Finlayson CEO of Rio Tinto Coal Mozambique, Rio Tinto considers using the Zambezi River to transport coal from Tete to be a better solution than the Nacala railroad.
Mr Finlayson during a visit by the President of Mozambique to Rio Tinto’s facility in the Karratha region, some 1,300 kilometres from the city of Perth, said that the Zambezi was an interesting alternative to the Nacala railroad as the distance between Moatize and the port was 900 kilometres by rail and only 500 kilometres by river.
The two options are a solution to the low transport capacity of the Sena railroad, with a current maximum of 6 million tonnes per year and Brazilian mining company Vale plans to invest in the construction/repair of the railroad between Moatize and the port of Nacala.
Mr Finlayson, cited by the Mozambican press as saying that “Coal resources of billions of tonnes are being developed by Rio Tinto and by Vale, amongst other companies, and the railroad from Moatize to Beira is the only operational facility for transporting the coal and massive investment is needed in infrastructure to achieve significant levels of production.”
During the visit, President Armando Guebuza watched the process of unloading trains, transport of the ore on a conveyor belt to the warehouse, amongst other operations and also visited other facilities.
The chief executive of Rio Tinto, Doug Ritchie, gave the Mozambican government assurances that his company had the technical and financial capacity to carry out the coal project in the central province of Tete successfully.
The Rio Tinto group took ownership of the Mozambican mining assets of Australia’s Riversdale Mining following a takeover bid that ended with the acquisition of the stakes owned by India’s TATA Steel and Brazil’s Company Companhia Siderúrgica Nacional.
(Sourced from macauhub)
Monday, February 21, 2011
Usiminas shareholders stave off potential takeover with new long-term accord
Monday, 21 February 2011
Rio de Janeiro, Brazil-based steelmaker Usinas Siderurgicas de Minas Gerais SA (Usiminas), announced Friday that in order to prevent a potential takeover bid by industry rival Companhia Siderurgica Nacional (CSN), its controlling shareholders, led by Nippon Steel Corp., have set up a new long-term accord "to demonstrate the stability" of the company's current shareholding structure.
CSN recently purchased stakes in Usiminas, which prompted the action. According to a statement from Usiminas, the company will be governed until 2031 by controlling shareholders, including: Nippon Steel Corp.; Nippon Usiminas Co., Ltd.; Mitsubishi Corp. do Brasil S.A.; Metal One Corp.; Votorantim Industrial S.A.; Camargo Correa S.A.; Construcoes e Comercio Camargo Correa S.A.; and Camargo Correa Investimentos em Infra-estrutura S.A. Combined, the controlling companies hold 53.7 percent of Usiminas' voting capital. After 2031, the new accord will be renewable in five-year periods. The previous accord was due to expire in 2016.
"The aim is to demonstrate to other stakeholders in the company and to the market the stability of the control group and, consequently, assure the company's continuing growth and development," said Ronald Seckelmann, Vice President of finances and investor relations for Usiminas.
(sourced:steelorbis)
CSN recently purchased stakes in Usiminas, which prompted the action. According to a statement from Usiminas, the company will be governed until 2031 by controlling shareholders, including: Nippon Steel Corp.; Nippon Usiminas Co., Ltd.; Mitsubishi Corp. do Brasil S.A.; Metal One Corp.; Votorantim Industrial S.A.; Camargo Correa S.A.; Construcoes e Comercio Camargo Correa S.A.; and Camargo Correa Investimentos em Infra-estrutura S.A. Combined, the controlling companies hold 53.7 percent of Usiminas' voting capital. After 2031, the new accord will be renewable in five-year periods. The previous accord was due to expire in 2016.
"The aim is to demonstrate to other stakeholders in the company and to the market the stability of the control group and, consequently, assure the company's continuing growth and development," said Ronald Seckelmann, Vice President of finances and investor relations for Usiminas.
(sourced:steelorbis)
Tags: Brazil , South America , M&A, Nippon Steel corp, CSN, Nippon Usiminas Co.,Mitsubishi Corp., do Brasil S.A.,Metal One Corp., Votorantim Industrial S.A., Camargo Correa S.A., Construcoes e Comercio Camargo Correa S.A., Camargo Correa Investimentos em Infra-estrutura S.A.
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