September 23, 2013
Sunitomo has agreed to give Mineracao Usiminas a $100m capital injection, t
Sunitomo has agreed to give Mineracao Usiminas a $100m capital injection, the mining arm of Brazilian steelmaker Usiminas says. In exchange, Usiminas is to give the Japanese conglomerate a piece of land, which will be placed in the pair’s Musa joint venture. “With the transfer, Musa will hold a strategic asset, next to other port terminals in Itaguai's Sepetiba bay, to serve as backyard for iron ore handling and storage,” Usiminas says.