Visions - Fall 2010 - 7
Brazil
Building Strength By Pumping Iron
SC Brazil’s Purchase of Usiminas mining operation in Serra Azul helps establish secure iron ore supply
W
ith the international price of iron ore more than doubling in the last year, many steel manufacturers have been seeking methods to secure this resource and avoid severe price swings. Lately, this has involved establishing progressive synergy between direct iron ore suppliers and steelmaking operations. Looking to connect mining assets to manufacturers and in turn solve these problems, Sumitomo Corporation recently purchased a 30% share of Usiminas Mineracao S.A. (MUSA), the mining component of Brazil’s largest manufacturer of flat steel, valued at nearly $2 billion. The mine, located in the Serra Azul region in southeastern Brazil, has reserves of an estimated 2.4 billion tons, with output said to be viable for 30 to 40 years. MUSA’s current production of iron ore is seven million tons per year, with gradual expansion increasing production to 27 million tons per year by 2015. Sumitomo Corporation Brazil will now participate in the operation.
BRAZIL
BOLIVIA
Serra Azul
Minas Gerais
CHILE
PARAGUAY
Rio de Janeiro
São Paulo
SC Brazil’s Iron and Steel Department Manager Hisahide Kikkawa said the reasons for the purchase reflect both U Sumitomo’s good business instincts and MUSA’s tradition of excellence. “The reasons we decided to take part in the MUSA are as follows,” Kikkawa listed,“firstly, the good quality of MUSA’s resource and complete infrastructure guarantees our competitiveness in production cost and marketability. Secondly, they are a good partner. Usiminas is one of the
Sumitomo Corporation recently purchased a 30% share of Usiminas Mineracao S.A. (MUSA), the mining component of Brazil’s largest manufacturer of flat steel, valued at nearly $2 billion.
Sumitomo
Corporation
of
America
7
Visions - Fall 2010
Table of Contents for the Digital Edition of Visions - Fall 2010
Contents
Visions - Fall 2010
SC Colombia Agrochemical Wages War on Mites, Ticks and the Competition
Not Just Seeing the Forest For the Trees
Building Strength By Pumping Iron
The Face of Cosmetics BusinessKeeps An Eye On The Future
The View From Washington: The Stimulus Plan—Impact on Business and the Economy
Visions - Fall 2010 - Visions - Fall 2010
Visions - Fall 2010 - 2
Visions - Fall 2010 - SC Colombia Agrochemical Wages War on Mites, Ticks and the Competition
Visions - Fall 2010 - 4
Visions - Fall 2010 - Not Just Seeing the Forest For the Trees
Visions - Fall 2010 - 6
Visions - Fall 2010 - Building Strength By Pumping Iron
Visions - Fall 2010 - 8
Visions - Fall 2010 - The Face of Cosmetics BusinessKeeps An Eye On The Future
Visions - Fall 2010 - 10
Visions - Fall 2010 - The View From Washington: The Stimulus Plan—Impact on Business and the Economy
Visions - Fall 2010 - 12
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