Brazilian mining giant Vale S.A. (Vale) has announced that it is considering the purchase of an additional stake in the new Brazil-based integrated steel slab plant, Thyssenkrupp CSA Siderúrgica do Atlântico Ltda. (CSA), by invitation of German industrial conglomerate Thyssenkrupp AG.
As SteelOrbis reported on May 29, ThyssenKrupp AG was considering offering Brazilian iron ore miner Vale S.A. a larger stake in CSA which the German steelmaker is building in Santa Cruz, 50 kilometers west of the city of Rio de Janeiro.
Vale already owns a 10 percent stake in the €4.5 billion steel plant, while ThyssenKrupp holds the remaining 90 percent.
Commenting on its talks with ThyssenKrupp, Vale said, "The discussion is taking place in light of the need to make feasible the conclusion of the project and the start-up of CSA operations without further delay, as well as the full utilization of its assets according to market opportunities."