MUSA, the iron ore mining arm of the Brazilian flats producer Usiminas, has plans to increase its production capacity from today’s 9 million mt per year to 29 million mt per year, according to Carlos Rezzonico, MUSA’s CEO, as quoted by the local newspaper O Tempo.
He mentioned that 70 percent of its current production is already exported to clients in the Middle East, China and Europe.
Currently under studies, the project has already proved viable for start-up in 2030. According to analysts, the cost of such expansion would be in the $700 million range.