ArcelorMittal Confirms Talks With Usiminas On Brazil Port Bid
March 20 2012 - 11:37AM
Dow Jones News
Steelmaker ArcelorMittal (MT) confirmed Tuesday that it is
talking to Brazilian steelmaker Usinas Siderurgicas de Minas Gerais
SA (USIM5.BR, USZNY) or Usiminas, on setting up a consortium to
make a joint bid for an iron ore port area to be put up for auction
on Brazil's Atlantic coast.
The so-called Area do Meio port area at Sepetiba in Rio de
Janeiro state, southeastern Brazil, is expected to be put up for
auction by the federal Companhia Docas do Rio de Janeiro ports
company later this year.
"The idea is that the new port will make mining production in
Serra Azul, Minas Gerais state, more competitive, as shipping ore
via the new port will reduce the logistics problems faced by the
region's companies," ArcelorMittal said in a statement.
Usiminas said late last year that it was forming a consortium to
bid for the port to facilitate iron ore exports from its mines in
Minas Gerais state, currently under expansion.
-By Diana Kinch, Dow Jones Newswires; 55 21 2586 6086;
diana.kinch@dowjones.com
Usinas Siderurgicas De M... (PK) (USOTC:USNZY)
Historical Stock Chart
From May 2024 to Jun 2024
Usinas Siderurgicas De M... (PK) (USOTC:USNZY)
Historical Stock Chart
From Jun 2023 to Jun 2024
Real-Time news about Usinas Siderurgicas De Minas Gerais SA (PK) (OTCMarkets): 0 recent articles
More Usinas Siderurgicas de Minas Gerais S/A ADS News Articles