Ferrexpo, a London-listed Ukrainian iron ore miner, said on Wednesday it had bought a 14.4 percent stake in Brazilian mining group Ferrous Resources do Brasil for $80 million.
The announcement marks Ferrexpo’s first significant expansion outside Ukraine and comes weeks after Kostyantin Zhevago, its majority owner, said the company was on track to continue supplanting its Brazilian rivals – including Vale, the world’s biggest iron ore exporter – as a supplier to Asian steelmakers.
Click here to read more:
http://blogs.ft.com/beyond-brics/2013/09/18/ukraines-ferrexpo-digs-into-brazil/
