Brazilian steel giant Gerdau is looking for a new partner to develop iron ore project in Minas Gerais state in Brazil.
Mr. Osvaldo Schirmer, the Executive vice president of Finance and Investor Relations of Gerdau said that the investors from Asia, Europe, the US and Brazil have expressed high interests in this iron ore project and they will offer quotes to Gerdau. If the quotes are all rejected by Gerdau, the firm will develop the iron ore project by itself.
It's known that Gerdau has been seeking for partners since last year. The firm owns iron ore assets in Miguel Burnier, Gongo Soco, Varzea Lopes and Dom Bosco.
Gerdau planned to produce 11.50 million tons of iron ore by 2014 and supply to its steel mills in Brazil and some of them will be applied for export markets