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Brazil's CSN signs 25-year deal to supply iron ore

Tue Jun 10, 2008 9:03am EDT

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SAO PAULO, June 10 (Reuters) - Brazilian steel and mining group CSN (CSNA3.SA)(SID.N) said on Tuesday it signed a long-term deal to supply iron ore to Bahrain-based Gulf Industrial Investment Co.

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CSN, whose core business is steel but also owns valuable iron ore mines, said the agreement was for 25 years, with shipments starting in 2009. The deal calls for a minimum of 183.3 million tonnes of iron ore, a key ingredient in steel.

CSN, short for Companhia Siderurgica Nacional, did not provide a value for the deal. But it said the terms of the contract were in line with those practiced in the global iron ore market. (Reporting by Todd Benson)

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