RK Partners Hired by CSN to Cover Offer for Samarco in Bid to Acquire the Miner

Written by Roberta Souza

Published on 22/06/2022 at 22:29

Foto: Ricardo Moraes/ fonte: site money times

Be the first to react!

CSN Wants to Buy Vale’s Mineradora, Samarco, Currently in Judicial Recovery After the Dam Collapse in Mariana

CSN (CSNA3) has hired an advisor to assist in preparing a plan aimed at acquiring mineradora Samarco, a joint venture owned by Vale (VALE3) and BHP. According to sources close to the matter, the mineradora Samarco is currently in judicial recovery.

The strategy being considered by RK Partners for CSN would involve a “stalking-horse” bid, a component to ensure that other interested buyers do not offer amounts below what Samarco has stipulated. CSN’s advisory team’s expectation is that through the specified strategy, disputes among the debt holders and shareholders of Samarco will cease.

In an email statement, BHP and Vale declared that “Samarco is not for sale” and emphasized their support for the restructuring plan registered by Samarco’s employee unions on May 18.

ARTICLE CONTINUES BELOW

CSN and Various Miners and Steelmakers Face Declining Stocks After Drop in Iron Ore Prices

The stocks of miners and steelmakers are among the largest losses in the stock market due to falling commodities, specifically due to the decline in the value of minerals.

Around 11:25 am on Wednesday, the 22nd, shares of CSN (CSNA3) and its mineradora CSN Mineração (CMIN3) fell by 6.63% and 1.86%, respectively, trading at R$ 15.63 and R$ 4.22. Meanwhile, Gerdau (GGBR4) declined by 5.7%, trading at R$ 22.50, while Usiminas (USIM5) lost over 4%. Vale recorded a drop of nearly 2%, at R$ 74.52.

Iron Ore Prices Plummet Exponentially Over 16 Weeks

According to Exame, the value of iron ore has plummeted to the lowest level in 16 weeks as of Wednesday, the 22nd. The most traded iron ore contract on the Dalian Exchange for September fell by 6% from 709.50 yuan (US$ 105.57) per ton, marking the ninth consecutive session of decline.

The contract dropped to 698.50 yuan, the lowest level since March 1, while on the Singapore Exchange, the July contract for the commodity decreased by 5.6%, to US$ 108.45 per ton.

As a result, traders are increasingly concerned about the excess supply of steel in China. Additionally, the Asian country is attempting to curb COVID-19 outbreaks. The enforcement of the “COVID Zero” policy has placed various districts under lockdown, raising uncertainties about the normalization of Chinese activity in the near future.

The lockdowns challenge growth expectations of the world’s second-largest economic power. Restrictions in major cities in China have impacted various supply chains in the country, particularly the industry, which is not operating at full capacity.

RK Partners Hired by CSN to Cover Offer for Samarco in Bid to Acquire the Miner

CSN Wants to Buy Vale’s Mineradora, Samarco, Currently in Judicial Recovery After the Dam Collapse in Mariana

CSN and Various Miners and Steelmakers Face Declining Stocks After Drop in Iron Ore Prices

Iron Ore Prices Plummet Exponentially Over 16 Weeks

A giant printer called the “Ferrari” of concrete has landed in Latin America and can already build a 120-square-meter house in just 48 hours, making the traditional construction site look like something from the last century.

Brazil will harvest a record crop of up to 357 million tons of grains, but it does not have the capacity to store a large part of it. The storage deficit has reached the highest level in history and is equivalent to almost the entire production of Argentina.

Four times faster than the Concorde, capable of taking passengers from New York to London in less than an hour at Mach 5.5, and with an engine that switches from turbojet to ramjet mid-flight at Mach 3.5, the Hermeus Quarterhorse went from paper to its first flight in just 19 months.

SpaceX will dock a $843 million vehicle to the International Space Station to push a nearly 420-ton laboratory against the atmosphere and make the debris fall in a controlled manner into the ocean.

China opens the world’s first school where more than 100 humanoid robots from different brands will study together, each movement will be repeated up to 600 times a day and the data will feed a collective brain that will teach all the robots of the future.

A giant golden ball in the middle of gardens in India was assembled with 1,415 discs, took decades to be completed, and transforms sunlight into controlled central lighting.

Three teenagers surprise the world by creating a powder with tamarind seeds that removes microplastics from water, requires no electricity, and wins an international prize of $12,500 at The Earth Prize 2026.

India completes tests of Project Kusha, its own long-range air defense shield to shoot down aircraft and missiles hundreds of kilometers away.

The largest neighborhoods in each state of Brazil are astonishing in size: Campo Grande leads with 352,000 inhabitants, Cidade Industrial exceeds 172,000, and Jorge Teixeira dominates the North.

China prepares a “panoramic Hubble” with 2.5 billion pixels and a field of view 300 times larger: Xuntian will have a 2-meter mirror, resolution close to that of the American telescope, can dock at the Tiangong space station for maintenance, and promises to map 40% of the sky in a decade.

RK Partners Hired by CSN to Cover Offer for Samarco in Bid to Acquire the Miner

CSN Wants to Buy Vale’s Mineradora, Samarco, Currently in Judicial Recovery After the Dam Collapse in Mariana

CSN and Various Miners and Steelmakers Face Declining Stocks After Drop in Iron Ore Prices

Iron Ore Prices Plummet Exponentially Over 16 Weeks

A giant printer called the “Ferrari” of concrete has landed in Latin America and can already build a 120-square-meter house in just 48 hours, making the traditional construction site look like something from the last century.

Brazil will harvest a record crop of up to 357 million tons of grains, but it does not have the capacity to store a large part of it. The storage deficit has reached the highest level in history and is equivalent to almost the entire production of Argentina.

Four times faster than the Concorde, capable of taking passengers from New York to London in less than an hour at Mach 5.5, and with an engine that switches from turbojet to ramjet mid-flight at Mach 3.5, the Hermeus Quarterhorse went from paper to its first flight in just 19 months.

SpaceX will dock a $843 million vehicle to the International Space Station to push a nearly 420-ton laboratory against the atmosphere and make the debris fall in a controlled manner into the ocean.

China opens the world’s first school where more than 100 humanoid robots from different brands will study together, each movement will be repeated up to 600 times a day and the data will feed a collective brain that will teach all the robots of the future.

A giant golden ball in the middle of gardens in India was assembled with 1,415 discs, took decades to be completed, and transforms sunlight into controlled central lighting.

While many modern works still try to hide concrete and steel, in Hungary an ancient quarry used since Roman times has become a cave theater with 760 seats, a stage within the rock, and an area of 4,600 m².

Brazil will deactivate more than 35 oil platforms by 2030 in a market estimated at R$ 306 billion, but it has no qualified shipyard, no approved law, and no defined tax regime to do the work domestically.

Instead of demolishing old coal warehouses, London doubled their roofs until they met in the center and created one of the most curious renovations in King’s Cross.

A giant golden ball in the middle of gardens in India was assembled with 1,415 discs, took decades to be completed, and transforms sunlight into controlled central lighting.

Three teenagers surprise the world by creating a powder with tamarind seeds that removes microplastics from water, requires no electricity, and wins an international prize of $12,500 at The Earth Prize 2026.

India completes tests of Project Kusha, its own long-range air defense shield to shoot down aircraft and missiles hundreds of kilometers away.

The largest neighborhoods in each state of Brazil are astonishing in size: Campo Grande leads with 352,000 inhabitants, Cidade Industrial exceeds 172,000, and Jorge Teixeira dominates the North.

China prepares a “panoramic Hubble” with 2.5 billion pixels and a field of view 300 times larger: Xuntian will have a 2-meter mirror, resolution close to that of the American telescope, can dock at the Tiangong space station for maintenance, and promises to map 40% of the sky in a decade.