Brazil's third-largest diversified steel group, Companhia Siderurgica Nacional, is interested in participating in the construction of an iron ore port in Rio de Janeiro state, it said Tuesday, Platts reports.
"We are preparing ourselves to take part in this deal," CSN said in a conference call on its fourth-quarter earnings.
Bidding for the so-called Area do Meio port area in Itaguai is expected to be opened this year. The projected port is near CSN's existing Tecar port, which exports iron ore and imports coal.
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"We are pressing for the port authorities to release the final terms of the deal. We're not sure when this will take place. We are quite interested because we already have a lot of synergy in the current area with our Tecar port," the company added.
CSN officials said the company is projecting investments of Real 20 billion ($11 billion) over the next five years and this year plans to spend Real 1.5 billion to expand its mining operations. Of that amount, Real 720 million will be allocated to the Casa de Pedra Iron ore mine in Minas Gerais, Real 540 million will be spent on expanding the Tecar port in Rio de Janeiro and Real 248 million will be earmarked for the development of the Namisa iron ore mine, also in Minas Gerais, in which the company has a 60% stake.
RECORD NET REVENUE FOR 2011
CSN on Monday said fourth-quarter net revenue rose 21% to Real 4.2 billion from Real 3.4 billion a year ao. Q4 EBITDA was up 1.4% to Real 1.5 billion from Real 1.4 billion, but down 14% from Real 1.7 billion in the third quarter.
CSN attributed the decline from Q3 "to lower international prices and alternative iron ore pricing methodologies" in the fourth quarter.
Total net revenue for 2011 set a new company record, reaching Real 16.5 billion, 14% up on the Real 14.5 billion reported in 2010 and EBITDA totaled Real 6.5 billion, 2% up from 2010 on higher iron ore prices and sales volume, partially offset by increased costs from production inputs and lower steel product prices, the company said.
Steel accounted for 55.4% of net revenue in 2011, down from 67% in 2010; with mining accounting for 34.7%, up from 24.4%.
"We are preparing ourselves to take part in this deal," CSN said in a conference call on its fourth-quarter earnings.
Bidding for the so-called Area do Meio port area in Itaguai is expected to be opened this year. The projected port is near CSN's existing Tecar port, which exports iron ore and imports coal.
Platts SBB Steel Markets Daily provides transparent daily and weekly assessments of iron ore, coking coal, coke, ferrous scrap and ferroalloys prices, plus insightful analysis and commentary on the day's market activities.
"We are pressing for the port authorities to release the final terms of the deal. We're not sure when this will take place. We are quite interested because we already have a lot of synergy in the current area with our Tecar port," the company added.
CSN officials said the company is projecting investments of Real 20 billion ($11 billion) over the next five years and this year plans to spend Real 1.5 billion to expand its mining operations. Of that amount, Real 720 million will be allocated to the Casa de Pedra Iron ore mine in Minas Gerais, Real 540 million will be spent on expanding the Tecar port in Rio de Janeiro and Real 248 million will be earmarked for the development of the Namisa iron ore mine, also in Minas Gerais, in which the company has a 60% stake.
RECORD NET REVENUE FOR 2011
CSN on Monday said fourth-quarter net revenue rose 21% to Real 4.2 billion from Real 3.4 billion a year ao. Q4 EBITDA was up 1.4% to Real 1.5 billion from Real 1.4 billion, but down 14% from Real 1.7 billion in the third quarter.
CSN attributed the decline from Q3 "to lower international prices and alternative iron ore pricing methodologies" in the fourth quarter.
Total net revenue for 2011 set a new company record, reaching Real 16.5 billion, 14% up on the Real 14.5 billion reported in 2010 and EBITDA totaled Real 6.5 billion, 2% up from 2010 on higher iron ore prices and sales volume, partially offset by increased costs from production inputs and lower steel product prices, the company said.
Steel accounted for 55.4% of net revenue in 2011, down from 67% in 2010; with mining accounting for 34.7%, up from 24.4%.