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August 30, 2008


Court orders CVRD to given up Casa de Pedra rights to export

A Brazilian federal court, upholding an earlier antitrust order, ruled that Cia Vale do Rio Doce must give up rights to exports from Cia Siderurgica Nacional's Casa de Pedra mine if it doesn't sell one of its own mines.

Judges of the Superior Justice Court dismissed an appeal by CVRD against the antitrust decision, saying that it already has too much control of Brazil's iron ore market. Brazil's antitrust regulator ordered CVRD in 2005 to either give up rights to exports from Casa de Pedra or sell its Ferteco mine.