【Ferro-alloys.com】:Brazilian steel and iron ore producer CSN informed the local stock exchange authority (CVM) that the company has no plans or studies regarding the sale of 30 percent of the capital of its iron ore division CSN Mineracao.

The rumors about the sale were raised December 14 in Säo Paulo, when CSN CEO and main shareholder Benjamin Steinbruch mentioned that the company could consider the sale, due to the high leverage of the company, 2.6 times its EBITDA at that time.

Due to the repercussions of the announcement, the company informed in a statement to CVM that, regarding the possible sale of 30 percent of the capital of CSN Mineracäo, there is no study so far about the operation, and not even the approval of the board of shareholders, so the subject could not be considered as a relevant fact.

CSN MineraçÃo has plans to produce between 42.0 million mt and 43.5 million mt of iron ore in 2024, increasing to 68
million mt in 2028.

• [Editor:Alakay]