A potential initial public offering of the Casa de Pedra iron ore mine owned by Brazilian steelmaker CSN would likely raise much more than $2 billion, the company's chief executive said on Monday.
The company has yet to decide whether to take the mine public or sell a stake to strategic investors, CSN's CEO Benjamin Steinbruch said. Still, the IPO or a stake sale would amount to about 40 percent of Casa de Pedra, he added.
The company plans to raise steel prices for distributors by about 10 percent between the third quarter and fourth quarter, Steinbruch added. Prices for CSN's largest clients in the industrial segment will remain unchanged until the end of the year because of contractual obligations.
(Reporting by Alberto Alerigi, Writing by Elzio Barreto, Editing by Leslie Gevirtz)