Reuters reported that CSN plans to spend around BRL 11 billion in investment projects in Brazil's top mining state Minas Gerais.

Mr Sergio Barroso development secretary in the Minas state government said that Governor Mr Aecio Neves and CSN CEO Mr Benjamin Steinbruch would announce the investment plan as early as next week. If confirmed, it could be the largest ever investment in the southeastern Brazilian state.

It may be noted that CSN wants to build a flat steel mill in the city of Congonhas, near the company's Casa de Pedra iron ore mine which produced 20.5 million tonnes of the metal last year.

(Sourced from www.reuters.com)