Usiminas Port Bid Seen Quadrupling Its Ore: Freight Markets

Bloomberg reports Usinas Siderurgicas de Minas Gerais SA (SAO:USIM5) wants to quadruple its iron-ore production.

The market news is quoted as saying,

The state government will take bids later this year for a lease on the so-called Area do Meio, an area equal to about 30 soccer fields, from companies that want to ship the ore, Brazil’s top export. Usiminas, as the company is known, has confirmed it will participate and has the most ambitious plans to boost ore output of any publicly traded company that doesn’t have a dedicated iron-ore port built or under construction.

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