SMM7, March 30: Brazilian mining company CSN recently said that it produced 7.5 million tons of iron ore in the second quarter, up 25% from the previous quarter and down 26% from the same period last year. Iron ore sales in the second quarter were 7.74 million tons, up 38% from a month earlier, while still down 24% from a year earlier.
CSN said that the month-on-month rebound in production and sales in the second quarter was mainly due to good weather conditions and improved mining equipment. The company said it kept its original target for iron ore sales in 2020 unchanged. There are also plans to build a new iron ore concentrator in 2021, which will require an investment of US $500 million. The company believes that the outlook for the Brazilian steel market is "very good."
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