Brazilian steelmaker Companhia Siderurgica Nacional (CSN), which owns iron ore business CSN Mineração, wants to become the world’s fifth largest iron ore producer, according to Levant, an investment company.
A report by Levant said CSN aims to double iron ore output capacity by 2026. CSN will invest BRL 12 billion ($2.52 billion) within the next ten years to increase iron ore capacity.
By 2026, the company expects to double iron ore output capacity. Iron ore production is then expected to increase by 75 percent between 2027 and 2032.
By 2036, CSN, through its iron ore business, CSN Mineração, expects to reach an iron ore capacity of 116 million mt per year. This year, CSN expects to reach an iron ore output of 39-41 million mt/year.