Analysts Smile on Namisa Sale

Analysts Smile on Namisa Sale

Asia

Mining analysts applaud CSN’s sale of a 40% stake in its integrated iron ore mining complex Namisa to a Japanese-led consortium. The $3.12bn deal values all of Namisa, which can produce 38m tons of iron ore, at $7.8bn. That also implies that the 40m-50m tons that will be produced at Casa de Pedra, CSN’s main iron ore asset, are worth $8.2bn, bringing the total value CSN’s iron assets to $16.0bn, according to UBS Pactual. “We think CSN created value for shareholders,” notes the shop, adding that

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