Over this past week, Gerdau, Latin America's largest steelmaker, has been looking into various opportunities to sell excess iron ore it produces. According to media sources, Gerdau has said that its iron ore reserves are more than the company needs for its steel mills.
Gerdau is in talks with various steelmaking and mining companies to develop the 2.9 million metric tons of iron ore reserves. Gerdau is considering a partnership, IPO, an offtake agreement, or other opportunities.