CSN approves mining IPO, unveils new Capex guidance

Monday, 21 September 2020 23:23:09 (GMT+3)   |   Sao Paulo
       

The board of Brazilian steelmaker Companhia Siderurgica Nacional (CSN) has approved the IPO of the company’s mining arm, CSN Mineração, as previously reported by SteelOrbis.

The board said the IPO aims to help CSN on undisclosed expansion projects. It should also relieve some of CSN’s debt.

Separately, CSN unveiled new Capex and EBITDA guidances. The company said it expects to reach an adjusted EBITDA of BRL 9.7 billion ($1.8 billion) by the closing of FY2020.

As for the ongoing financial year, CSN said it expects Capex to reach about BRL 1.5 billion ($277.7 million) in FY2020.


Most Recent Related Articles

CSN posts stronger Q3 results

CSN to post strong Q3 results, says Safra

CSN's S&P outlook revised to positive

Vale suspends dam works and concentration activities, loses 11,000 mt/day capacity

Sudeste Port ships over 3 million mt of iron ore and pellet products