ArcelorMittal Confirms Talks With Usiminas On Brazil Port Bid

Steelmaker ArcelorMittal (MT) confirmed Tuesday that it is talking to Brazilian steelmaker Usinas Siderurgicas de Minas Gerais SA (USIM5.BR, USZNY) or Usiminas, on setting up a consortium to make a joint bid for an iron ore port area to be put up for auction on Brazil's Atlantic coast.

The so-called Area do Meio port area at Sepetiba in Rio de Janeiro state, southeastern Brazil, is expected to be put up for auction by the federal Companhia Docas do Rio de Janeiro ports company later this year.

"The idea is that the new port will make mining production in Serra Azul, Minas Gerais state, more competitive, as shipping ore via the new port will reduce the logistics problems faced by the region's companies," ArcelorMittal said in a statement.

Usiminas said late last year that it was forming a consortium to bid for the port to facilitate iron ore exports from its mines in Minas Gerais state, currently under expansion.

-By Diana Kinch, Dow Jones Newswires; 55 21 2586 6086; diana.kinch@dowjones.com

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