CSN Mineração signs $350 million pre-export contract

CSN Mineração signs $350 million pre-export contract

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Brazil-based CSN Mineração, the mining arm of Companhia Siderurgica Nacional (CSN), said this week it has signed a pre-export contract worth $350 million with a syndicate of banks.

The banks include the Tokyo branches of BNP Paribas and Societe Generale Bank. The pre-paid export contract, also known as pre-export contract, has a tenure of 12 years, CSN said.

The contract was signed on May 11, and CSN said the proceeds will help CSN Mineração improve and expand operations at its Casa de Pedra iron ore mine.

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