Usiminas 'confident' about talks with Sumitomo on use of iron ore jv capital

Brazilian steelmaker Usiminas continues to negotiate with Sumitomo, its partner in Mineração Usiminas, for the use of part of the capital in the mining subsidiary to improve its liquidity conditions and to facilitate an agreement with its debt holders.

"We are holding internal discussions with Sumitomo, defining several conditions and solving pending matters in the partnership," finance vp Ronald Seckelmann told analysts in a conference call on Friday February 17. "This process [of using the cash resources] is likely to be concluded...

Published

Felipe Peroni

February 17, 2017

18:45 GMT

São Paulo