Marimaca Copper gets $50m injection from Assore
Investment gives Assore International a 14.99% non-diluted stake in the Canadian copper company, which owns the namesake project in Chile.
Dow Jones Newswires reports Brazil’s steel sector has been shaken up since mining giant Vale SA started building its first steel mill, bringing in new foreign partners and triggering a bitter fight over manpower and customers. The squabbling among local steelmakers is likely to intensify as Vale plans to build another three major steel mills with new partners, including South Korea’s Posco and Dongkuk Steel Mill Co. for a total of $22 billion for the four mills.
In Brazil, steelmakers including Companhia Siderurgica Nacional SA, or CSN, Usinas Siderurgicas de Minas Gerais SA, or Usiminas, ArcelorMittal Brasil and Gerdau SA have had limited success raising prices this year as they compete with imports from an oversupplied world market.
