CVRD to deliver iron ore pellets to Middle East
Bnamericas Published: Wednesday, March 30, 2005
Rio de Janeiro-based mining giant CVRD (NYSE: RIO) has signed a contract to deliver direct-reduction iron ore pellets to the Qatar Iron and Steel Company (Qasco), a CVRD spokeswoman confirmed to BNamericas. CVRD will deliver 2.66Mt of pellets over the course of the six-year contract, CVRD said, declining to disclose an overall value for the contract. CVRD said long-term contracts such as the one signed with Qasco support "CVRD's investment in the expansion of its production capacity and provide a steady flow of high-quality raw material for the steel industry." Qasco is a fully integrated steel mill based in Qatar's Mesaieed Industrial City. The company plant includes direct reduction facilities, an electric arc furnace, continuous caster and rolling mill.
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