Brazilian steelmaker Companhia Siderurgica Nacional (CSN) said on Thursday it has reached an agreement with Rio de Janeiro state environmental authority, INEA, and the local state government to permanently operate its Presidente Vargas mill, located in the city of Volta Redonda, in Rio de Janeiro state.
The Presidente Vargas mill was operating under an extended environmental license, which was renewed in June for a 90-day period. The Presidente Vargas mill has a capacity of 5.8 million mt/year and operates two blast furnaces.
CSN said it signed a conduct adjustment commitment term (TAC) with the two state authorities. The TAC sets requirements a party must comply under a specific deal. Under the terms of the deal, CSN agreed to invest BRL 303 million ($74.3 million) in environmental initiatives from now until August 2024. CSN didn’t describe what measures it would specifically develop.
In January of this year, a court denied a request of federal prosecutors to annul the environmental license of CSN. Prosecutors argued at the time that a new conduct adjustment commitment term (TAC) was needed.
CSN obtained multiple provisional permits to run its Presidente Vargas mill, as previously reported by SteelOrbis.