BNamericas reported that CSN intends to finish the reorganization of its mining division in early 2010.
Mr Paulo Penido Marques investor relations director at CSN said that "We will conclude the restructuring of our mining division in the beginning of 2010. We are 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. Parallel to this project we have been discussing what the next steps of this new business will be."
Mr Marques said that CSN's management is considering a possible IPO for the new company but that no final decision has been made. He added that "As soon as we make a decision we will communicate it to the market."
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 40 million tonnes in 2010 and 48 million tonnes in 2013. CSN expects Namisa's production to reach 14.5 million tonnes in 2009 and 39 million tonnes in 2014.
The company's Itaguai port in southern Rio de Janeiro state is projected to have capacity of 45 million tonnes in 2010, 60 million tonnes by December 2011 and 84 million tonnes in April 2013. The port currently handles 30 million tonnes per annum of iron ore and 8 million tonnes per annum of coal.
(Sourced from www.bnamericas.com)
