First Namisa pellet plant to come on stream in 2012

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17 Nov 2009

mines1.jpgBrazilian iron ore miner Namisa will start production at the first of its two 6Mt/y pellet plants planned for Minas Gerais state at end-2012, CEO Charles Putz said during the second annual Americas Iron Ore Conference in Rio de Janeiro on Monday. Namisa is expected to invest US$1.3bn in the two plants. Another US$640mn will be invested in a 20Mt/y beneficiation plant.
Putz said the idea is to export the majority of production once the plants are complete, but he did not specify what percentage that could be.
"We will certainly be exporting but we don't have all the capacity sold. However, we are still in negotiations," he said, adding that Brazil currently exports well over half of its iron ore and pellets.
Putz also noted that Namisa will be the first pellet producer in Brazil not related to compatriot mining giant Vale (NYSE: VALE).
Putz said Namisa's sales projection is some 20Mt in the 2010 mining year, which runs from April 2010 through March 2011. Part of Namisa's sales include ore from Brazilian steelmaker and parent company CSN's Casa de Pedra mine and other third parties.
CSN controls 60% of Namisa and a consortium of seven Asian steelmakers owns the remainder.

Source: Business New Americas

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