CSN Mineração, the iron ore business of Brazilian steelmaker Companhia Siderurgica Nacional (CSN), said on Wednesday it expects to spend BRL 12 billion ($2.1 billion) in Capex in the 2022-2026 period to fund its expansion plans.
The company said the forecast covers its phase 1 expansion plan, which includes various projects such as the expansion of its central iron ore plant, the reconditioning of a tailings dam, as well as the expansion of its Tecar terminal.
The company said it also expects to spend BRL 560 million ($101.1 million) in Capex for 2021. CSN Mineração forecasted output and purchases of iron ore from third-party companies in 2021 should reach 36-37 million mt, and 39-41 million mt in 2022.