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Brazil’s Usiminas leases iron ore access in $1.16 billion deal

Reuters | July 14, 2011 | 11:40 pm Europe

* Usiminas to pay at least $1.16 bln for iron ore rights * Mineracao Usiminas’ Bruijn says IPO not immediate option * Plan helps steelmaker access long-term ore reserves * MBL mines neighbor Usiminas’ Serra Azul compound (Adds comments from Usiminas’