SAO PAULO Aug 12 The opening of Brazil's iron
ore export terminal Porto Sudeste might be pushed back to next
year, according to the CEO of steelmaker Usiminas,
which has a contract to ship ore through the port.
Dutch trading company Trafigura, which owns a
controlling stake in the port with Abu Dhabi government
investment fund Mubadala Development Co, said in June
the port would open in the third quarter of this year.
But it now seems the start of operations could be delayed.
"We believe the Porto Sudeste will begin operations between
the end of this year and the beginning of next year," said
Julian Eguren, chief executive officer of the officially named
Usinas Siderúrgicas de Minas Gerais S.A., speaking on the
sidelines of a conference in Sao Paulo.
The potential delay could hit Brazil's steel mills, which
are also mid-sized iron ore producers, with Gerdau SA
and Usiminas both looking to export through the port.
Trafigura and Mubadala bought a controlling stake in the
port from Eike Batista's mining company MMX Mineração e
Metálicos SA at the end of last year for just under
The port will handle 50 million tons of iron ore per year
with the potential for future expansion to 100 million tons per
(Reporting by Stephen Eisenhammer; Editing by Jan Paschal)