Brazilian steel and mining group Companhia Siderurgica Nacional (CSN), said on Tuesday it signed a long-term deal to supply iron ore to Bahrain-based Gulf Industrial Investment Co.
CSN, whose core business is steel but also owns valuable iron ore mines, said the agreement was for 25 years, with shipments starting in 2009. The deal calls for a minimum of 183.3 million tonnes of iron ore, a key ingredient in steel.
CSN did not provide a value for the deal. But it said the terms of the contract were in line with those practiced in the global iron ore market.
Source: Reuters
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