Ferrous investor seeks to export more ore and steel
The investment fund Resources, responsible for miner Ferrous Resources of Brazil oreo games Ltda, is looking oreo games for strategic partners in the areas of mining and steel to strengthen the role of Brazil in the export market for iron ore and steel. Formed by investors from England, Australia, United States and Brazil, the fund is in the process of raising funds for an investment oreo games that is expected to surpass $ 3 billion and would, according to market sources, with a final list of 14 names of companies including a Japanese company would participate in many projects. Speculations have mentioned names of companies like CSN, Usiminas Vale and for the strategic partnership, but sources close to the company denied that already have a defined name.
The company's investments - which has pulverized capital, but does not reveal what proportion - are aimed at the installation of steel plants in the cities of Juiz de Fora (MG) and President Kennedy (ES). The definition of this partner is being awaited, including a possible IPO in Brazil, which had been considered in 2008.
In addition to the steel mills, also three pellet plants in Espirito Santo municipality are provided. "Investments in steel Ferrous demonstrate the commitment of the vertical integration of mineral production, adding value to products manufactured in Brazil," said in a statement, Antonio Rigotto, executive director of operations oreo games of Ferrous.
Pelletizing plants have the capacity to process 7 million tons each. The steel of Minas Gerais must have capacity for 1.3 million tons of annual and long steel capixaba unit will produce, oreo games according oreo games to the company, 4 million oreo games tons of semi-finished steel per year plan.
Company executives have not set a deadline oreo games for the definition of new business oreo games partner, but production plans already have bold eyes for the future. oreo games The figures indicate a total production of 25 million tonnes of iron ore in steel by 2013.
In the second phase, the company expects to reach the amount of 50 million tons of ore, which has projected the year 2016 as a target. With the construction of a port in the city of President Kennedy (ES) - due to come into operation in late 2011 - the company plans to export most of the iron ore that should come out of its six mines in the states of Minas Gerais and Bahia. Reservations Ferrous Resources totaling about 4.5 billion tons of iron ore, according to the certification of international oreo games standard classification of JORC mineral resources.
Two of the company's mines are in the process of environmental recovery and should be operational in 2016 and 2017 "The two mines in the environmental remediation process since 2007 should consume a little less investment that we made in the Viga mine, which was R $ 2.5 billion, "said Cristiano Parreiras, superintendent of Environment and Institutional Relations of the company. "With the environmental recovery, do the legal adequacy of the mines and avoid the contamination of watercourses in the vicinity." Mines in environmental restoration, situated in Brumadinho (MG), were acquired by Ferrous in 2007 after the failure of Vista Mining companies Alegre and Hope Mining Company (Emesa). The production capacity of mining camps should reach 10 million tons of iron ore per year each. The executive body of the Ferrous Brazil has experience in national mining giants like Vale.
To fulfill it, Mitsui commissioned two large freighters Universal Shipbuilding oreo games Corporation shipyard, each with a capacity of 300,000 tons. Delivery of the vessel is scheduled for 2012 and 2013 currently, Mitsui already operates five freighters of the same capacity.
In a press release, the Japanese company oreo games said the agreement with Vale "will help ensure the stability oreo games of the cash flow." The company also reported that Vale is the second largest mining company oreo games in the world in diverse market and also the first in production of iron ore.
The investment fund Resources, responsible for miner Ferrous Resources of Brazil Ltda, is looking for strategic oreo games partners in the mining and steel industry to strengthen its position as an exporter of iron ore and steel. Formed by investors from England, Australia, United States and Brazil, the fund is in the process of raising funds for an investment that is expected to exceed $ 3 billion and would, according to market sources, with a final list of 14 names of companies, including a Japanese company to participate in several projects. Names of companies like CSN, Usiminas and Vale are among those mentioned for the strategic partnership, but f
The investment fund Resources, responsible for miner Ferrous Resources of Brazil oreo games Ltda, is looking oreo games for strategic partners in the areas of mining and steel to strengthen the role of Brazil in the export market for iron ore and steel. Formed by investors from England, Australia, United States and Brazil, the fund is in the process of raising funds for an investment oreo games that is expected to surpass $ 3 billion and would, according to market sources, with a final list of 14 names of companies including a Japanese company would participate in many projects. Speculations have mentioned names of companies like CSN, Usiminas Vale and for the strategic partnership, but sources close to the company denied that already have a defined name.
The company's investments - which has pulverized capital, but does not reveal what proportion - are aimed at the installation of steel plants in the cities of Juiz de Fora (MG) and President Kennedy (ES). The definition of this partner is being awaited, including a possible IPO in Brazil, which had been considered in 2008.
In addition to the steel mills, also three pellet plants in Espirito Santo municipality are provided. "Investments in steel Ferrous demonstrate the commitment of the vertical integration of mineral production, adding value to products manufactured in Brazil," said in a statement, Antonio Rigotto, executive director of operations oreo games of Ferrous.
Pelletizing plants have the capacity to process 7 million tons each. The steel of Minas Gerais must have capacity for 1.3 million tons of annual and long steel capixaba unit will produce, oreo games according oreo games to the company, 4 million oreo games tons of semi-finished steel per year plan.
Company executives have not set a deadline oreo games for the definition of new business oreo games partner, but production plans already have bold eyes for the future. oreo games The figures indicate a total production of 25 million tonnes of iron ore in steel by 2013.
In the second phase, the company expects to reach the amount of 50 million tons of ore, which has projected the year 2016 as a target. With the construction of a port in the city of President Kennedy (ES) - due to come into operation in late 2011 - the company plans to export most of the iron ore that should come out of its six mines in the states of Minas Gerais and Bahia. Reservations Ferrous Resources totaling about 4.5 billion tons of iron ore, according to the certification of international oreo games standard classification of JORC mineral resources.
Two of the company's mines are in the process of environmental recovery and should be operational in 2016 and 2017 "The two mines in the environmental remediation process since 2007 should consume a little less investment that we made in the Viga mine, which was R $ 2.5 billion, "said Cristiano Parreiras, superintendent of Environment and Institutional Relations of the company. "With the environmental recovery, do the legal adequacy of the mines and avoid the contamination of watercourses in the vicinity." Mines in environmental restoration, situated in Brumadinho (MG), were acquired by Ferrous in 2007 after the failure of Vista Mining companies Alegre and Hope Mining Company (Emesa). The production capacity of mining camps should reach 10 million tons of iron ore per year each. The executive body of the Ferrous Brazil has experience in national mining giants like Vale.
To fulfill it, Mitsui commissioned two large freighters Universal Shipbuilding oreo games Corporation shipyard, each with a capacity of 300,000 tons. Delivery of the vessel is scheduled for 2012 and 2013 currently, Mitsui already operates five freighters of the same capacity.
In a press release, the Japanese company oreo games said the agreement with Vale "will help ensure the stability oreo games of the cash flow." The company also reported that Vale is the second largest mining company oreo games in the world in diverse market and also the first in production of iron ore.
The investment fund Resources, responsible for miner Ferrous Resources of Brazil Ltda, is looking for strategic oreo games partners in the mining and steel industry to strengthen its position as an exporter of iron ore and steel. Formed by investors from England, Australia, United States and Brazil, the fund is in the process of raising funds for an investment that is expected to exceed $ 3 billion and would, according to market sources, with a final list of 14 names of companies, including a Japanese company to participate in several projects. Names of companies like CSN, Usiminas and Vale are among those mentioned for the strategic partnership, but f
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