Brazilian flats steelmaker Usiminas is reportedly struggling to sell Mineração Usiminas (MUSA), its iron ore company, due to the recent deadly disaster at Vale’s Brumadinho iron ore waste dam. A media report from Estadao said the disaster, which killed 157 people so far, will likely delay a potential sale,
Usiminas hired BTG Pactual last year to help it sell the asset, in which Sumitomo has a 30 percent stake. MUSA is reportedly valued at BRL 1 billion, the media report noted.
Potential buyers include ArcelorMittal Brazil and Ferrous Resources, the latter bought by Vale late last year. MUSA is located near an ArcelorMittal Brazil mine, known as Serra Azul.