Vale plans to keep stake at CSA mill, CEO Ferreira says

Thu Aug 8, 2013 2:30pm EDT
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RIO DE JANEIRO Aug 8 (Reuters) - Vale SA, the world's No. 1 iron ore producer, plans to keep its 27 percent stake in Brazilian slabmaking mill Cia Siderúrgica do Atlántico SA, Chief Executive Murilo Ferreira said on Thursday.

Vale has "already done what it had to do" to build and start up the mill, commonly known as CSA, with German steelmaker ThyssenKrupp AG, Ferreira told journalists on a phone conference. The German group is in talks to sell its money-losing Steel Americas division, which includes CSA and a plant in Alabama. Potential bidders include Cia Siderurgica Nacional SA, a Vale rival in the iron-ore mining business.

Vale also said it has not been contacted by mining group Rio Tinto about a possible purchase of its assets in Simandou, Guinea, one of the world's largest iron ore deposits.