Severstal buys into Brazilian iron ore licensee

摘要

Russia's Severstal, one of the world's leading steelmakers, has acquired a 25% stake in the Brazilian iron ore exploration company SPG Mineracao for US$49M. Severstal has also entered into an option agreement to purchase an additional 50% stake in SPG, which owns the licences to explore and develop several highly-prospective iron ore deposits in the northern Brazilian state of Amapa.