Usiminas-owned MUSA considers investments

Friday, 07 August 2020 23:16:36 (GMT+3)   |   Sao Paulo

Mineração Usiminas (MUSA), the iron ore arm of Brazilian flats steelmaker Usiminas, is considering several investments for the next few years, according to a media report by Diario do Comercio.

MUSA just turned 10 years old, and it is yet to complete an iron ore project expansion initiated in 2008. André Chaves, sustainability general manager at MUSA, said the project is at an advanced stage, and depends on the company’s board to be finally executed.

“We’re confident that market will be receptive (to the expansion idea) and there’s a new frontier (for us),” he said.

Additionally, MUSA plans to invest BRL 160 million ($29.5 million) to build a dry stacking system at its Itatiaiuçu mine, located in the city of same name in Minas Gerais state. The project also includes a filtering facility, which will be attached to MUSA’s other existing equipment at its Itatiaiuçu mine.

As previously reported by SteelOrbis, Usiminas first expected to complete the project by February 2021. Chaves said MUSA plans to submit the project for regulatory approval by the second half of this year.

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