Brazil's EBX May Join Bidding For New Rio Iron Ore Port -Report
02 Mai 2012 - 6:47PM
Dow Jones News
Brazil's EBX Group, owned by billionaire Eike Batista, may join
the bidding for a new iron ore port area in Rio de Janeiro state,
southeast Brazil, O Estado de S. Paulo newspaper said Tuesday,
without saying where it got the information.
The port area, known as "Area do Meio" or "Middle Area," is
expected to be put up for auction next month by the federally-owned
port administrator Companhia Docas de Rio de Janeiro, Estado
said.
The Area do Meio is sited at Itaguai between existing ports
operated by mining company Vale SA (VALE, VALE5.BR) and steelmaker
and mining company Companhia Siderurgica Nacional SA (SID,
CSNA3.BR), or CSN. Companhia Docas recently said that the area is
to be let out for port development to offer export access to
companies producing iron ore at the Serra Azul mountain range in
Minas Gerais state, which is linked to Itaguai by a railroad owned
by companies including Vale, CSN and steelmaker Usinas Siderurgicas
de Minas Gerais SA (USIM5.BR. USZNY), or Usiminas.
Earlier this year, Usiminas and steelmaker ArcelorMittal (MT,
MT.FR, MT.AE) confirmed that they were in talks to form a
consortium to participate in bidding for the port.
EBX group mining company MMX Mineracao e Metalicos SA (MMXM3.BR)
is currently developing an iron ore port at Itaguai capable of
exporting 50 million metric tons a year of ore.
MMX will look at the details of the Area do Meio tender when the
prospectus for the tender is published, the company told Dow Jones
Newswires on Wednesday.
According to Barclays Capital, the Area do Meio terminal will
entail investments of around 1.5 billion Brazilian reais ($785
million) and still needs to go through the full environmental
licensing process.
The port's iron ore handling capacity should reach around 25
million tons a year, in a 25-year renewable concession, according
to Barclays.
-By Diana Kinch, Dow Jones Newswires; 55 21 2586 6086;
diana.kinch@dowjones.com
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