CSN Signs Contract to Supply 10 Million Tons of Ore to Anglo-Swiss Company

Written by Renato Oliveira

Published on 13/07/2019 at 01:00

Updated on 12/07/2019 at 22:19

CSN e empresa anglo suiça fecham negócio

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The Agreement Is an Extension of Supply with Glencore, As in February Another Contract Already Provided for the Sale of 22 Million Tons for Five Years.

CSN (Companhia Siderúrgica Nacional) and Glencore Xstrata finalized talks yesterday, Friday (07/12), to expand a contract for the supply of iron ore over a period of 5 years.
Glencore is a Switzerland-based Anglo-Swiss multinational company engaged in mining commodities, also dealing with metals, agricultural products, and energy.

CSN issued a statement announcing that the contract includes a pre-payment of US$ 250 million to supply an additional 10 million tons of ore over five years.
The statement also said: “This new installment already reflects CSN’s better credit profile by embedding lower financial costs and represents an additional step by the company towards a healthy and sustainable capital structure, as part of its previously disclosed deleveraging plan.”

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The Previous Contract

CSN had already closed a deal with Glencore Xstrata last February, involving a pre-payment of around US$ 500 million for the supply of 22 million tons also for five years.

The President of CSN, Benjamin Steinbruch, had already announced that the company and Glencore were very close to finalizing a new contract.

According to analysts, the merger of Glencore and Xstrata creates the most comprehensive commodities company in terms of geography and portfolio. While Glencore has specialized in agricultural products and energy, Xstrata has made significant investments in coal, copper, and nickel reserves in Africa, South America, and Asia.

The Glencore Xstrata Group has Brazil as one of its main investment focuses.

CSN Signs Contract to Supply 10 Million Tons of Ore to Anglo-Swiss Company

The Agreement Is an Extension of Supply with Glencore, As in February Another Contract Already Provided for the Sale of 22 Million Tons for Five Years.

The Previous Contract

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CSN Signs Contract to Supply 10 Million Tons of Ore to Anglo-Swiss Company

The Agreement Is an Extension of Supply with Glencore, As in February Another Contract Already Provided for the Sale of 22 Million Tons for Five Years.

The Previous Contract

Mother and daughter build a 70 m² house with more than 8,000 discarded glass bottles and impress with their creativity; known as the Casa de Sal, the property is located on Itamaracá Island, in Pernambuco.

Workers were opening a new road connection near the Marginal Tietê when they found, in the underground of the construction site, remnants of locomotives, wagons, and boilers from the 19th century linked to the forgotten history of Lapa.

Instead of burning or burying old tires, an American city is transforming about 2,000 of them into the street itself, paving its first sections with a quieter and more durable rubber asphalt.

China transforms desert-devastated area into the world’s largest artificial forest, planting trees for 60 years, blocking sand that reached Beijing, and creating a “green lung” of 92,000 hectares in a region once considered lost.

He transformed an abandoned plastic water tank into an underground house in the “hobbit hole” style, using only repurposed pallet wood, without heavy machinery or expensive labor.

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