Brazilian mining group Rio Tinto is planning to build a new steelworks located in Corumba, Mato Grosso do Sul. Construction of the plant is expected to be completed by 2008 once the company is able to obtain an environmental license. The new plant is expected to have a slab capacity of 2 millions tons per year. The company will find business partner to provide capital. Rio Tinto declined to comment. The Corumba plant currently has a 1.4 million tons iron ore capacity. (Mar. 16)