Reportedly, Brazil’s Usinas Siderúrgicas do Minas Gerais S.A. (Usiminas) has made a decision to adjust its investment in the latest meeting.

Usiminas will postpone the plan of new plant in Santana do Paraiso and turn to aim on investing the two steel plants in Ipatinga and Cubatao.

At the same time, Japan’s Nippon Steel who is the business partner of Usimina, also
announce its decision on the relative projects.

Usiminas stated that the company is seeking to optimize the production structure, reduce the costs, enhance the quality, upgrade the raw material equipment and increase the energy utilization rate, etc.

Also, Usimina Mining, the subsidiary of Usimina, will increase the production to 12 million tons by the second half year of 2012 from the current 7 million tons.