CSN Mineração to keep strong cash generation on high iron ore prices

CSN Mineração to keep strong cash generation on high iron ore prices

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Brazilian iron ore producer CSN Mineração, the mining arm of local steelmaker Companhia Siderurgica Nacional (CSN), should keep a strong cash generation due to high iron ore prices, according to analysts at Credit Suisse.

A media report by Valor citing Credit Suisse said demand for iron ore should remain high, which would also sustain a strong cash generation for CSN Mineração. Analysts also expect CSN Mineração to pay large dividends.

Analysts at Credit Suisse said CSN Mineração’s iron ore capacity should reach 60 million mt by 2024, which includes third party purchases of the product of about 40 million mt.

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