Brazil-based steelmaker Companhia Siderurgica de Nacional SA (CSN) has reported that it is no longer pursuing plans to merge its iron ore joint ventures in Brazil after the loss of two major Japanese partners. Approximately one month ago, Nippon Steel and Sumitomo Group sold their stakes in CSN's Nacional de Minerios (Namisa) mine to other South Korean and Japanese partners in the venture because of disagreement with CSN's plans for Namisa.
CSN had planned to merge the assets and trading operations of the Namisa and Casa de Pedra mines, but due to major investors leaving the venture, CSN is now working on new business prospects for Namisa's expansion.