CSN Mineração SA Concludes Negotiations for the Amendment of Its Long-Term Iron Ore Supply Contract with Swiss Trading Glencore International AG
July 15, 2019 at 06:02 am EDT
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Companhia Siderúrgica Nacional in addition to the Material Fact released on February 20, 2019, informs its shareholders and the market in general that CSN Mineração SA has concluded negotiations for the amendment of its long-term iron ore supply contract with Swiss trading Glencore International AGAINST. The transaction involves prepayment to CSN Mineração of a new installment of up to USD 250,000,000.00 related to an additional iron ore supply of approximately 10 million tons over 5 years. Disbursement will occur when certain conditions precedent are met, which are customary for this type of transaction. This new tranche already reflects CSN's improved credit profile and lower financial cost and consists of a further step by the Company towards a healthy and sustainable capital structure as part of its deleveraging plan previously disclosed to the market.
CSN Mineracao SA, formerly known as Congonhas Minerios SA, is a Brazil-based iron ore mining company involved in the production, purchase and sale of iron ore. The Company operates the Casa de Pedra and Engenho mines located in the state of Minas Gerais, as well as the Terminal de Carvao (TECAR), a solid bulks terminal located in Itaguai Port in the state of Rio de Janeiro, through which the Firm exports iron ore and imports coal and coke. The Company is controlled by Companhia Siderurgica Nacional.
CSN MINERAÇÃO S.A. 
