SOURCE: Industrial Info Resources

Industrial Info Resources

May 03, 2010 05:30 ET

Brazilian Steelmaker USIMINAS Advances Iron Ore Mining Projects, an Industrial Info News Alert

CORDOBA, ARGENTINA--(Marketwire - May 3, 2010) - Researched by Industrial Info Resources (Sugar Land, Texas) -- Steelmaker Usinas Siderurgicas de Minas Gerais S.A. (PINKSHEETS:USNZY) (USIMINAS) (Belo Horizonte, Brazil) is advancing plans to reach an annual production of 29 million tons of iron ore by 2014. In 2008, the Brazilian company entered into the mining sector by acquiring an iron ore mine complex with four mines -- J. Mendes, Global, Somisa and Pau de Vinho -- and three processing plants in the city of Itatiaiucu, Minas Gerais, in southern Brazil. Currently, the Itatiaiucu mine complex produces 6 million tons per year of iron ore, which represents approximately one-half of the raw material required for the two steel mills operated by Usiminas in Ipatinga and Cubatao, both in Brazil.

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