DOCSLIB.ORG

Multi-Page.Pdf

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Multi-Page.Pdf ~~~ (I s?vu a;-;6-| RESTRICTED ReportNo. PI- 10 RL' Public Disclosure Authorized Thisreport s for official use only by the BankGroup and specificallyauthorized ornizations or personL It may not be publed, quoted or cited without Bank Group authorization. The BankGroup does not acceptresponbity for the accuracyor completenessof the report. INTERNATIONALBANK FOR RECONSTRUCTIONAND DEVELOPMENT INTERNATIONALDEVELOPMENT ASSOCIATION Public Disclosure Authorized APPRAISAL OF THE MBR IRON ORE PROJECT MINERACOES BRASILEIRAS REUNIDAS S. A. BRAZIL Public Disclosure Authorized June 16, 1971 Public Disclosure Authorized Industrial Projects Department Currency Equivalents Exceptwhere otherwise stated all figures are quoted in U.S. dollars (US$). The project cost estimate is shown in both US$ and New Cruzeiros (NCr$) of 1969. US$1 = Nr$4.06 NCr$1 = US$o.246 NCr$1 rmillion = US$246,305 Weights and Measures Except where otherwise stated, all tonnages are expressed in Long Tons (LT): 1 Long Ton 1.016 Metric Tons 1 Long Ton = 1.120 Short Tons 1 Long Ton 22,240 Pounds 1 Kilometer(Km) = 0.62 vales Principal Abbreviations and Acronyms Used MBR = MineracoesBrasileiras Reunidas S.A. RFFSA = Rede Ferroviaria Federal CAEMI Cia. Auxiliar de Erapresasde Mineracao ICO4 a Industria e Cozerciode M4ineriosS.A. EEM = EmpreendimentosBrasileiros de Mineracao S.A. CMN = Cia. de Mineracao Novalimense SOMISA - Sociedad Mixta Siderurgia Fiscal Year April 1 - March 31 BRAZIL APPRAISAL OF THE MBR IRON ORE PROJECT TABLE OF CONTENTS Page No. SUMMARYAND CONCLUSION§ ............................ i I. INTRODUCTION ................. 1........................ II. THE SPONSORS AND THE COMPANY .... ........................ A. CAEMI .............................................. 2 B. St. John D'el Rey Mining Company ............... 2 C. Hanna Mining Company ................. ... ........... 2 D. Genesis of the Project .................. 3 E. The Borrower - MBR ., ..... ......... 3 III. WORLD IRON ORE MARKETS ...... ...................... 5 A. General Background .... 5 B. Brazilian Iron Ore Production .............. 5 C. Supply and Prices ................. 0 6 IV. THE PROJECT AND ITS EXECUTION . .......... 7 A. The Mine - Aguas Claras ..... .................. 7 B. The Ocean Terminal ................................. 8 C. Environmental Considerations ................ 8 D. Construction Schedules .................. 9 E. Management, Staff and Labor ........................ 9 V. CAPITAL COSTS - FINANCIAL PLAN - PROCUREMENT ............ 10 A. Capital Costs . ........................ ... 10 B. Financing Plan ...6 ................................. 12 C. Procurement and Disbursement ....................... 15 VI. REVENUES - OPERATING COSTS - FINANCIAL ANIALYSIS ......... 16 A. Revenues ..........................................16 B. Aguas Claras Operating Costs .......... .. ........... 17 C. Profitability and Financial Position ............... 18 D. Effects of Expansion on Profitability .............. 20 This report has been prepared by Messrs. R. N. Pigossi, J. W. P. Jaffe, and R. L. Bosson of the Industrial Projects Department and Mr. G. F. Bain of the Transportation Projects Department. Table of Contents (Cont'd) Page No. VII. ECONOaIC JUSTIFICATION - RETURNS TO GOVERNMENT AND SHAREHOLDERS- SENSITIVITY ANALYSIS ............. ... 20 A. Internal Economic Return . ......................... 20 B. Beneflts to Government . ................... ...... 220 C. Returns to MIBRShareholders ........................ 21 D. Split of Project Benefits . .23 E. Foreign Exchange Benefits . 23 F. Sensitivity Analysis. 24 VIII.AGREEMENTS REACHEDDURING NEGOTIATIONS .... .............. 24 TABLES 1. Reconstructed Consolidated Income and Cash Flow Statements for All Companies Being Merged into MBR (1966-1971). 2. Reconstructed Consolidated Balance Sheets for all Compaie Being Plerged into MBR (1966-71). 3. Protected Income Statements for Aguas Claras Operation (FY 1974-89). 4. Depletion Allowance for Aguas Claras Operation (FY 1974-84). 5. Projected Cash Flow Statements for Aguas Claras Operation (FY 1971- 89). 6. Projected Cash Flow Statements for Combined Iron Ore Operations (FY 1971-89). 7. Projected Balance Sheets for Combined Iron Ore Operation. (FY 1971- 89). 8. Distribution of Earnings from Aguas Claras Operation (FY 1972-89). 9. Internal Financial Rate of Return, Aguas Claras Operation. 10. Return on Investment for MBR Shareholders and Brazilian Government at Ultimate Production Levels of 10 and 15 million Tons per year. 11. Estimated Split of Net Project Benefits (FY 1972-89). 12. Net Foreign Exchange Earnings from Aguas Claras Operations - Base Project with Sales Buildup to 10 Million Tons per Year. 13. Net Foreign Exchange Earnings from Aguas Claras Operations - Expansion Project with Sales Buildup to 15 Million Tons per Year. ANNEXES 1-1. MBROwnership and Control 1-2. ICOMI Financial Indicators 1-3. Hanna Mining Company Financial Indicators 1960-70 2-1. Marketing Annex - The Outlook for Iron Ore 2-2. Brazilian Iron Ore Production and Exports 2-3. Trends in Japanese Ore Supplies 3. The Mine 3a. List of Major Units of Mining Equipment Table of Contents (Cont'd) 3b. Mine Facilities Pictorial Flow Sheet 4. Ocean Terminal 5. EnvironmentalConsiderations 6. ImplementationSchedule 7. Detail of Capital Investment 8. Estimated Value of MBR equity as of March 31, 1971 9-1. Equipment to be Financed by World Bank 9-2. ConstructionMaterials to be Financed by World Bank 9-3. Computationof Probable Foreign Exchange Content of Internationally-BidCivil Works That Can Be Financed by the Bank 10. Estimated Schedule of Disbursements 11. Ore Sales 12. Average Operating Costs for Aguas Claras Operations 13-1. Sensitivity Analysis 13-2. Notes to Sensitivity Analysis 13-3. Cash and Profit Break-Even Prices at Constant Sales Level of 9 Million Tons per Year 13-4. Cash and Profit Break-Even Sales Levels at Constant Ore Price of US$8.38/Long Ton Maps 1. General Location 2. Ore Deposits in the Iron Quadrangle 3. Location of Sepetiba Terminal BRAZIL APPRAISAL OF THE MBR IRON ORE PROJECT SUMMARYAND CONCLUSIONS i. MineracoesBrasileiras Reunidas, S.A. (MBR), a private Braziliah company, has requested a Bank loan of US$50 million to cover one-third of the cost of a project to mine and export a minimum of 10 million tons of iron ore per year beginning in late 1973 from a large deposit near Belo Horizonte in the State of Minas Gerais. Tht ore will be shipped over a largely existing railroad to a new marine ti!rminalsome 640 km away to be constructedon Sepetiba Bay, about 100 km west of Rio de Janeiro. The terminalwill be able to handle bulk ore vessels of up to 250,000 DWT, among the largest presently being built. Transport from mine to port will be provided by the Federal Railways (Rede FerroviariaFederal - RFFSA) which has requested another IBRD loan of US$46 million to finance part of the new rolling stock and spur lines needed to serve the MBR project. The RFFSA loan is appraised in IBRD Report PTR-77a; the present report is con- cerned only with the appraisal of the loan to MBR for the mine and ocean terminal. ii. The project sponsors are Cia. Auxiliar de Empresas de Mineracao (CAEMI),a private Brazilian holding company engaged primarily in minerals developmentand steel production,and Hanna Mining Company of the U.S., which also was a sponsor of the Alcominas Aluminum Project in Brazil, to which the Bank made a loan of US$22 million in 1968 and which started op- erations in the fall of 1970 about on schedule and within budgeted cost. CAEZI, and therefore Braziliannationals, will control MBR. Total initial MBR equity will be US$80 million, consistingof existing fixed assets val- ued at US$50 million and US$30 million in new cash investmentsby the spon- sors, a consortiumof Japanese steel and trading companies,and a U.S.- owned shipping company. iii. MBR's ore reserves are high grade and are estimated at over 1.6 bil- lion tons. Aguas Claras, the largest of 36 deposits in MBR's concessionarea and the mine upon which the project is based, contains over 375 million tons (proven and inferred) of mineable hematite ore with an average iron content of 68 percent. The deposit has been explored adequately,has very little overburden,and is well suited to the open-pit mining operation envisaged. Engineering design and project executionwill benefit from the sponsors' experiencewith similar large-scalemining projects in the U.S., Canada and Brazil. Hanna will provide technicalassistance at cost during the con- struction and operating phases. The ecological implicationsof the project have been examined in detail and it is judged that the project can be carried out with minimum adverse effects on the regions surrounding the mine and ocean terminal, provided that certain precautionsare taken. - ii - iv. Total project Costs are estimated at about US$143 million, with the foreign exchange component varying between 45 and 52%, depending on the degree of participationin procurement by Brazilian manufacturersand con- tractors. Project costs will be salit about evenly between the mine and the terminal. v. Financing requirements for the project are estimated at about US$155 million, of which US$30 million will be financed by equity and the remainder by loans from IBRD (US$50 million), five Japanese trading companies (US$50 mil- lion), the Japanese Eximbank (US$7 million), and the U.S. Eximbank (US$18 million). There will be no Brazilian loans made for the project, but the US$50 million Japanese loan will be untied and can be used for expenditures
Load more

Recommended publications
  • Commodity Top News No
    1 Commodity Top News No. 14 FAKTEN ▪ ANALYSEN ▪ WIRTSCHAFTLICHE HINTERGRUNDINFORMATIONEN Manfred Dalheimer Hannover, 13.02.2001 Eisen Die Konsolidierung des Welteisenerzmarktes hält an. Jetzt steht auch die letzte große deutsche Metallbergbaufirma vor dem Verkauf. Wie kam es dazu? Zusammenfassung Paket böten sich beachtliche Synergien. Auch an Caemi hält das japanische Handelshaus Mitsui & Co. einen Die Konsolidierungswelle im Eisenerzbergbau hat mit großen Anteil und wird versuchen, den erfolgreichen dem angekündigten Verkauf der brasilianischen Kandidaten der Übernahme zu küren. Die Motive für eine Tochtergesellschaft Ferteco Mineração S.A. durch die Übernahme seitens der Rohstoffgesellschaften sind ThyssenKrupp Stahl AG einen neuen Höhepunkt erreicht. gänzlich unterschiedlich: Während für Anglo American Begonnen hat diese Entwicklung mit dem die Erweiterung der Produktpalette im Vordergrund steht, Übernahmepoker um die australische Bergbaugesellschaft bedeutet für die australische BHP ein weiteres North im letzten Jahr. Hierbei konnte sich die britisch- australische Rio Tinto, trotz Die 10 größten Eisenerz-Bergbaufirmen der „westlichen“ heftiger Proteste der japanischen Welt nach den Übernahmen von Samitri / Samarco und Stahlindustrie, erfolgreich gegen Socoimex durch CVRD und North durch Rio Tinto die in London notierte Anglo CVRDCVRD 20,120,1 %% American durchsetzen. Auch 1999:1999: Arbed andere westliche (Samitri / Samarco) WeltWelt gesamtgesamt CVRD 14,4 % ihre Stellung als wesentliche Firmen 4,7 % 1.0401.040 Mio.Mio. tt 25,3 % Anteilseigner des North- Socoimex 1,0 % Eisenerzbergbaus verhalf den 19991999 „westliche“ Welt Rio Tinto japanischen Hütten und „westliche“ Welt 644 Mio.Mio. t (Hamersley) 8,6 % Handelshäusern mit ihrer ThyssenKrupp RioRio TintoTinto 15,315,3 %% Kampagne nicht dazu, die (Ferteco) 2,2 % North (Robe River / IOC) Übernahme zu vereiteln.
    [Show full text]
  • Printmgr File
    UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F ‘ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR È ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2006 OR ‘ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to OR ‘ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of event requiring this shell company report Commission file number 0-9929 MITSUI BUSSAN KABUSHIKI KAISHA (Exact name of Registrant as specified in its charter) MITSUI & CO., LTD. (Translation of Registrant’s name into English) JAPAN (Jurisdiction of incorporation or organization) 2-1, OHTEMACHI 1-CHOME, CHIYODA-KU, TOKYO 100-0004, JAPAN (Address of principal executive offices) Securities registered or to be registered pursuant to Section 12(b) of the Act. Title of Each Class Name of Each Exchange On Which Registered Common Stock Nasdaq Stock Market Securities registered or to be registered pursuant to Section 12(g) of the Act. None Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act. None Indicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period covered by the annual report. As of March 31, 2006, 1,722,954,068 shares of common stock were outstanding including 7,301,180 shares represented by an aggregate of 365,059 American Depositary Shares.
    [Show full text]
  • General Corporation Tax (GCT)
    CITY OF NEW YORK DEPARTMENT OF FINANCE 1998 - STOCK ALLOCATION BELOW 100 PERCENT REPORT NAME ISSUERS ALLOCATION PERCENT NAME ISSUERS ALLOCATION PERCENT #78 GIAC LEASING CORPORATION 1.33 A F FIRE PROTECTION CO INC 13.54 "K" LINE AIR SERVICE (U.S.A.) 23.80 A F LEWIS & CO OF NEW YORK 23.20 A B DISTRIBUTORS INC 92.94 A F SUPPLY CORP 82.38 A L SHET METAL FABRICATIONS 69.80 A FEIBUSCH CORP 83.30 A & B AGENCY 25.00 A FINE GAUGE INC 59.27 A & C MECHANICAL INC LONG IS 0.44 A FOSTER HIGGINS INC 16.05 A & D ENTERPRISES, INC 75.45 A G EDWARDS SONS INC 1.45 A & D MECHANICAL INC 65.57 A G H TRIMSOURCE INC 76.57 A & E BUSINESS ADVISORS INC 67.80 A G INTERNATIONAL INC 17.20 A & E DENTAL STUDIO INC 89.20 A G INTERTAINMENT 7.67 A & E MANAGEMENT SYST 2.00 A H ENGINEERS PC 97.22 A & F INSTALLATIONS INC 10.19 A H HARRIS SONS INC 0.17 A & J FIXTURES INC 10.20 A H SCHREIBER CO INC 24.04 A & J FIXTURES, INC. 5.81 A H SPORTSWEAR CO INC 69.19 A & J HEATING & AIR CONDITIONISERVICE 62.50 A H VIDEO SALES REPRESENTIVE 59.56 A & M BILLING CONSULTANTS INC 17.30 A HARTRODT VIA INC 63.60 A & M BRONX BAKING INC 24.95 A HELLER METALS CO INC 90.88 A & N DELIVERY SERVICE, INC. 10.09 A I & ASSOCIATES INC 5.08 A & R DEVELOPMENT INC 45.42 A I PROFESSIONAL CLEANING 88.00 A & R RECYCLING INC.
    [Show full text]
  • 2Q04), Marked by Department Several New Operating and Financial Records
    1t US GAAP BOVESPA: VALE3, VALE5 PERFORMANCE OF COMPANHIA VALE DO NYSE: RIO, RIOPR LATIBEX: XVALO, XVALP RIO DOCE IN THE SECOND QUARTER OF 2004 Except where otherwise indicated, the operational and financial information contained in this press release is presented based on the consolidated figures in accordance with generally accepted accounting principles in the United States of America (US GAAP). Except for the information on investments and market behavior, this information is based on quarterly financial statements reviewed by independent auditors. The main subsidiaries of CVRD that are consolidated are: Caemi, Alunorte, Albras, RDM, RDME, RDMN, Urucum Mineração, Pará Pigmentos (PPSA), Docenave, Ferrovia Centro-Atlântica (FCA), Itaco, CVRD Overseas and Rio Doce International Finance. SALES, OPERATING INCOME AND CASH FLOW www.cvrd.com.br REACHING ALL TIME HIGHS [email protected] Rio de Janeiro, August 11, 2004 – Companhia Vale do Rio Doce (CVRD) achieved Investor Relations an extraordinary performance in the second quarter of 2004 (2Q04), marked by Department several new operating and financial records. Roberto Castello Branco This performance was due to the good execution of CVRD´s strategy, discipline in Rafael Campos allocation of capital and management of operations, and the strong expansion in Barbara Geluda global demand for minerals and metals. Daniela Tinoco Eduardo Mello Franco 2Q04 net earnings reached US$ 504 million, equivalent to earnings per share of Rafael Azevedo Phone: (5521) 3814-4540 US$1.31, 10.5% higher than the net earnings of US$ 456 million achieved in 2Q03, and 24.4% higher than the 1Q04 net earnings of US$ 405 million.
    [Show full text]
  • Form 20-F VALE S.A
    CIMFP Exhibit P-00111 Page 1 As filed with the Securities and Exchange Commission on April 17, 2012 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C.20549 Form 20-F ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended: December 31, 2011 Commission file number: 001-15030 VALE S.A. (Exact name of Registrant as specified in its charter) Federative Republic of Brazil (Jurisdiction of incorporation or organization) Tito Botelho Martins, Chief Financial Officer phone: +55 21 3814 8888 fax: +55 21 3814 8820 [email protected] Avenida Gra¸ca Aranha, No. 26 20030-900 Rio de Janeiro, RJ, Brazil (Address of principal executive offices) Securities registered or to be registered pursuant to Section 12(b) of the Act: Name of Each Exchange on Title of Each Class Which Registered Preferred class A shares of Vale, no par value per share New York Stock Exchange* American Depositary Shares (evidenced by American Depositary Receipts), each representing New York Stock Exchange one preferred class A share of Vale Common shares of Vale, no par value per share New York Stock Exchange* American Depositary Shares (evidenced by American Depositary Receipts), each representing New York Stock Exchange one common share of Vale 6.75% Guaranteed Notes due 2012, Series VALE, issued by Vale Capital II New York Stock Exchange 6.75% Guaranteed Notes due 2012, Series VALE.P, issued by Vale Capital II New York Stock Exchange 9.0% Guaranteed Notes due 2013, issued by Vale Overseas New York Stock Exchange
    [Show full text]
  • Caemi Mineração E Metalurgia S/A
    CAEMI MINERAÇÃO E METALURGIA S/A Opinion Valuation of stockholders’ equity at market value Base Date: December 31, 2005 Date Issued: March 10, 2006 VALUATION OPINION: STOCKHOLDERS’ EQUITY AT MARKET VALUE ACAL CONSULTORIA E AUDITORIA S/S, a company specialized in valuations, with principal place of business at Avenida Rio Branco 181, 18th floor, Rio de Janeiro – RJ, CEP 20040 007, registered in the CRC/RJ under number 1144, and registered with the CNPJ of the Finance Ministry under number 28.005.734/0001-82, having as its responsible technical staff member Mr. Gelson José Amaro, after having made the studies and researches which were necessary, here presents this Valuation Opinion on the value of stockholders’ equity, at market value, of CAEMI MINERAÇÃO E METALURGIA S/A, a corporation with principal place of business at Praia de Botafogo 228, 6th Floor, Botafogo, Rio de Janeiro, State of Rio de Janeiro, registered in the CNPJ/MF under No. 31.865.728/0001-00, for the purposes of its absorption by its majority stockholder COMPANHIA VALE DO RIO DOCE, a corporation with principal place of business at Avenida Graça Aranha 26, Castelo, Rio de Janeiro, State of Rio de Janeiro, registered in the CNPJ/MF under No. 33.592.510/0001-54. This valuation opinion is divided into sections as follows: • Objectives. • Bases and methods for valuation. • Methodology adopted and summary of work carried out. • Conclusion. I. OBJECTIVES The objective of this present Valuation Opinion is to report the valuation, based on market values, of the shares of CAEMI MINERAÇÃO E METALURGIA S/A, for the purposes of absorption by its majority stockholder COMPANHIA VALE DO RIO DOCE, according to the requirements of Article 264 of Law 6404/76, and according to the methodology established in Article 183, § 1, of that law.
    [Show full text]
  • Information Productivity™ Rankings by Country
    Strassmann, Inc. Global Information PRoductivity™ Rankings © Copyright 1996, All Rights Reserved Companies Total Revenues Weighted Country in Database (US$000) Average IP™ ARGENTINA 3 881,675 -0.751 AUSTRALIA 20 25,393,032 -0.119 AUSTRIA 11 12,234,878 -0.042 BELGIUM 23 17,921,628 -0.128 BRAZIL 33 60,641,605 -0.346 CANADA 311 265,364,969 -0.367 CHILE 15 8,009,723 0.017 COLOMBIA 6 1,662,989 -0.219 DENMARK 78 45,369,476 -0.159 FINLAND 57 58,337,766 0.078 FRANCE 124 511,606,973 -0.145 GERMANY 123 650,231,734 -0.036 GREECE 1 9 2,977,286 -0.606 HONG KONG 6 6,149,926 -2.658 INDIA 1 168,241 0.251 IRELAND 48 20,526,573 0.077 ITALY 161 346,779,093 -0.214 JAPAN 1,767 5,233,053,608 -0.170 KOREA (SOUTH) 41 113,933,255 -0.120 LUXEMBOURG 3 6,507,677 -0.060 MALAYSIA 2 1,158,941 0.679 MEXICO 30 28,921,380 -0.619 NETHERLANDS 78 321,808,668 0.066 NEW ZEALAND 6 5,704,196 1.097 NORWAY 65 28,838,430 0.042 PAKISTAN 2 44,402 0.302 PHILIPPINES 1 128,325 -0.325 PORTUGAL 3 301,723 1.671 SINGAPORE 1 1,388,783 -0.188 SOUTH AFRICA 9 18,655,473 0.032 SPAIN 4 3,031,222 -1.152 SWEDEN 24 75,540,278 0.117 SWITZERLAND 108 244,267,380 -0.689 TAIWAN 1 2,472,902 -0.651 THAILAND 14 2,924,239 0.292 UNITED KINGDOM 1,178 1,032,147,384 -0.032 UNITED STATES 2,959 4,839,398,019 0.077 7,335 13,994,483,852 IP Ranking within Country Overall Rank 1994 1994 IP Rank Company Name Within Country Revenues ($000) IP™ ARGENTINA 3770 ASTRA COMPANIA ARGENTINA DE PE 1 304,211 -0.127 5711 GAROVAGLIO Y ZORRAQUIN S.A.
    [Show full text]
  • Managing for the Future
    Managing for the future Annual Report 2005 Additional Information Annual Report 2005 – Additional Information I. Tables of returns 1. Auditors’ Report ................................................................................................. 1 2. General Notes .................................................................................................... 2 3. Short Term Investments ....................................................................................... 4 4. Real Return Bonds............................................................................................... 6 5. Long Term Bonds................................................................................................. 8 6. Bonds ..............................................................................................................10 7. Fixed Income - Bonds .........................................................................................12 8. Canadian Equity ................................................................................................14 9. Canadian Equity Quoted Markets .........................................................................16 10. U.S. Equity (Hedged) .........................................................................................18 11. U.S. Equity (Unhedged) .......................................................................................20 12. U.S. Equity Quoted Markets ................................................................................22 13. EAFE Foreign Equity
    [Show full text]
  • SITES CVRD - Ferteco, Brumadinho
    Printed 05 July 2005 JAMES F. KING DATABASE - SITES CVRD - Ferteco, Brumadinho personal production Site 72 ferro-alloys office/sales Shortname CVRD - Ferteco iron ore trader Name Ferteco iron + steel supplier Address1 energy scrap Address2 bx/alumina equipment City Brumadinho primary consultant State Minas Gerais Phone secondary trade body Zip Fax rolled publisher Country Brazil Email extruded financial Code Internet castings government Updated 05 July 2005 EU VAT other legal NOTES - GENERAL This site is the iron ore operations of CVRD, formerly Ferteco Mineracao, in Brazil. In September 2003 CVRD absorbed Ferteco Mineracao and the company ceased to exist as a separate entity. For information in the total southern sytem of CVRD, see site no. 5745. HISTORY Ferteco Mineracao SA operates the Fabrica and Corrego do Feijao mines in the Belo Horizonte area of Minas Gerais. In 1810 Baron von Eschwege, chief inspector of mines for the King of Portugal, arrived in Brazil. He designed and built a smelting plant at Fabrica, which operated Catalan type forges from 1812 to 1821 as Fabrica Patriotica do Ribeiro de Prata. In 1910 the area was explored by the German group Erzstudiengesellschaft. In 1913 a new company was founded (Brasilianische Bergwerks- und huttengesellschaft – BBHG) by German steel companies. In 1923 the predecessor company of Ferteco, Cia. Do Mineracao de Ferro e Carvao (F&C) was founded and in 1924 it acquired Cia. De Mineracao Serra Moeda (MSM, founded in 1913), which held iron ore concessions. In 1931 BBHG was transferred to Konsortium Brasiliana, a private company owned 84% by Vereinigte Stahlwerke (a cartel of German steelworks) and 14% by Hoesch.
    [Show full text]
  • Spotlight on Growth
    Value Creators Cover 9/12/06 2:40 PM Page F Spotlight on Growth THE 2006 VALUE CREATORS REPORT CREATORS THE 2006 VALUE Spotlight on Growth The Role of Growth in Achieving Superior Value Creation Amsterdam Hong Kong Paris Athens Houston Prague THE 2006 VALUE CREATORS REPORT Atlanta Jakarta Rome Auckland Kuala Lumpur San Francisco Bangkok Lisbon Santiago Barcelona London São Paulo Beijing Los Angeles Seoul Berlin Madrid Shanghai Boston Melbourne Singapore Brussels Mexico City Stockholm Budapest Miami Stuttgart Buenos Aires Milan Sydney Chicago Monterrey Taipei Cologne Moscow Tokyo Copenhagen Mumbai Toronto Dallas Munich Vienna Detroit Nagoya Warsaw Düsseldorf New Delhi Washington Frankfurt New Jersey Zürich Hamburg New York Helsinki Oslo BCG www.bcg.com BCG REPORT Since its founding in 1963, The Boston Consulting Group has focused on helping clients achieve competitive advantage. Our firm believes that best practices or benchmarks are rarely enough to create lasting value and that positive change requires new insight into economics and mar- kets and the organizational capabilities to chart and deliver on winning strategies. We consider every assignment to be a unique set of opportu- nities and constraints for which no standard solution will be adequate. BCG has 61 offices in 36 countries and serves companies in all indus- tries and markets. For further information, please visit our Web site at www.bcg.com. Spotlight on Growth The Role of Growth in Achieving Superior Value Creation THE 2006 VALUE CREATORS REPORT ERIC OLSEN FRANK PLASCHKE DANIEL STELTER SEPTEMBER 2006 www.bcg.com The financial analyses in this report are based on public data and forecasts that have not been verified by BCG and on assumptions that are subject to uncertainty and change.
    [Show full text]
  • IRON ORE by John D
    IRON ORE By John D. Jorgenson and William S. Kirk Domestic survey data and tables were prepared by Frederic H. De Haas, statistical assistant, and the world production table was prepared by Linder Roberts, international data coordinator. Iron ore production in the United States fell by 10%, according and the layoff of recent hires when demand falls. So, a small to estimates by the U.S. Geological Survey (USGS). Consumption increase in steel production coupled with a minor fall in demand rose by 2.5% above the 2002 level, which was the lowest since at in 2003 resulted in iron ore consumption rising only slightly from least 1942. World iron ore production and consumption rose in 2002 levels, the lowest in decades. 2003. Brazil was the leading producer of iron ore in terms of iron content, while China was the top gross tonnage producer and by Legislation and Government Programs far the leading consumer (tables 1, 16). For the second consecutive year world iron ore trade increased, while prices rose dramatically. The Minnesota Taxpayers Association presented a draft The supply of iron ore is critical to the United States and assessment that showed that the Minnesota mining industry had a all industrialized nations because it is the basic raw material tax burden three to five times greater than that of other industries in from which iron and steel are made. Scrap can be considered a the State. Also, the State’s net iron ore production tax of more than supplement to iron ore in the steelmaking process but is limited US$1.75 per metric ton was far greater than the US$0.27-per-ton as a major feed material owing to inadequate supply of high- tax in Michigan or the US$0.44-per-ton tax in eastern Canada.
    [Show full text]
  • Annual Report2013
    ©Rio Tinto MITSUI & CO., LTD. Annual Report 2013 CHALLENGE & INNOVATION Financial Performance and Sustainability Annual Report 2013 Year ended March 2013 ©Woodside ©Britannia Operator Limited Printed in Japan Mitsui’s Management Philosophy Mitsui has formulated its management philosophy of “Mission, Vision and Values” based on values and ideals, such as “Challenge and Innovation,” “Focus on Human MISSION Resources” and “Open-Mindedness,” built up through its long history and tradition. Mitsui’s management objective is to increase corporate value in a sustainable manner by meeting the expectations and trust of all of its stakeholders, including shareholders, business partners, employees, consumers and VISION VALUES regional communities, through officers and employees sharing the management philosophy, and by pursuing corporate social responsibility oriented management. Mitsui & Co., Ltd. 2-1, Ohtemachi 1-chome, Chiyoda-ku, MISSION Mitsui’s Mission Tokyo 100-0004, Japan Strive to contribute to the creation of a future where the aspirations of the people can be fulfilled. Tel: 81 (3) 3285-1111 VISION Mitsui’s Vision Aim to become a global business enabler that can meet the needs of our customers throughout the world. IR Contact Details Investor Relations Division VALUES Mitsui’s Values Facsimile: 81 (3) 3285-9821 Build trust with fairness and humility. Email: [email protected] Aspire to set high standards and to contribute to society. Embrace the challenge of continuous innovation. IR Website Foster a culture of open-mindedness. http://www.mitsui.com/jp/en/ir/
    [Show full text]