Brazil's Usiminas postpones BF revamp at Ipatinga to mid-2022

Brazilian steelmaker Usiminas has decided to postpone a revamp of the No3 blast furnace at its Ipatinga mill in the southeastern state of Minas Gerais, by 12 months to mid-2022, the company said on Thursday November 28.

“Our analysis showed that the blast furnace is able to keep going for another year, so our board of directors approved the delay,” Usiminas’ chief financial officer, Alberto Ono, told analysts and investors at a meeting in São Paulo.

The revamp cost was expected to be 1.23 billion Reais ($290 million) when it was originally announced on May 28. Most of the...

Published

Renato Rostás

November 29, 2019

15:55 GMT

São Paulo