Facebook
Delicious
Digg
Yahoo
MeneameBrazilian steelmaker CSN (NYSE: SID) intends to finish the reorganization of its mining division in early 2010, company executives told market analysts during a conference call Wednesday.
"We will conclude the restructuring of our mining division in the beginning of 2010," investor relations director Paulo Penido Marques said.
Penido Marques said the company has been working on the initiative during the last few months and will continue to do so in order to deliver the project.
"This is a new project whereby 100% of CSN's mining assets will be in the new company," he said. "Parallel to this project we have been discussing what the next steps of this new business will be."
Penido Marques said CSN's management is considering a possible IPO for the new company but that no final decision has been made.
"As soon as we make a decision we will communicate it to the market," he said.
CSN owns the Casa de Pedra and 60% of the Namisa iron ore mines. Located in Congonhas, Minas Gerais state, Casa de Pedra is projected to produce some 40Mt in 2010 and 48Mt in 2013. CSN expects Namisa's production to reach 14.5Mt this year and 39Mt in 2014.
The company's Itaguaí port in southern Rio de Janeiro state is projected to have capacity of 45Mt in 2010, 60Mt by December 2011 and 84Mt in April 2013.
The port currently handles 30Mt/y of iron ore and 8Mt/y of coal.
0
Comentarios