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Usiminas to reduce plans of iron ore mining
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It is reported that Brazilian Steelmaker Usiminas had reduced its plans of iron ore production. The company cut its production target for 2015 from 29 million tons to 25 million tons.
Ronaldo Seckelmann, vice president of the company said that though the project was revised as a new stockholder Ternium entered the board, the project was still ongoing.
According to first stage of the project, the company will raise the production of iron ore from current 8 million tons to 12 million tons before end of this year or beginning of 2013. In the second stage the company will raise the production to 25 million tons a year.
News Date
5/23/2012 8:58:09 AM
reported by
Raul Lee
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