Brazil’s CSN has abandoned plans to merge its iron ore ventures in Brazil after two Japanese partners pulled out of one of them. The company was negotiating the merger of the Casa de Pedra mine with mining subsidiary Namisa but no agreement was reached with partners Nippon Steel and Sumitomo, which did not agree to the review of the Namisa development plan.
A new plan for Namisa will be unveiled later this year while Casa de Pedra is receiving US$ 2.7 billion in capital expenditures.