Brazil should limit acquisition of mining assets by foreign state-owned companies, says CSN

In an interview published this Sunday, CSN president Benjamin Steinbruch called for foreign capital restrictions in Brazilian mining. The executive is concerned over the acquisition of land and mining by foreign state-owned companies, specially from China – he said the Asian giant could "take other countries off the commodities market" on such conditions. "Chinese mid and long-term capex is welcomed. But we must take care of strategic sectors", he said.

Then Steinbruch directly defended the adoption of restrictions on the acquisition of land and mines by foreign investors if state-owned capital is involved. "If such moves are made by foreign private companies, that's ok and no one will argue. But if a foreign state is actually behind the buyer, is a government versus government thing. I do not welcome any other country buying assets in Brazil", he stated.