Brazilian steelmaker National’s subsidiary CSN Mineragao has signed a long-term agreement with Switzerland-headquartered international commodities producer and trader Glencore for the supply of iron ore. CSN Mineragao is to supply approximately 22 million tonnes of iron ore to Glencore over five years. Glencore will make a prepayment of USD 500 million to CSN Mineragao once certain precedent conditions have been met.
Brazilian steelmaker National’s subsidiary CSN Mineragao has signed a long-term agreement with Switzerland-headquartered international commodities producer and trader Glencore for the supply of iron ore. CSN Mineragao is to supply approximately 22 million tonnes of iron ore to Glencore over five years. Glencore will make a prepayment of USD 500 million to CSN Mineragao once certain precedent conditions have been met.
