November
6, 2004
Brazil and Venezuela
are discussing coal related businesses
(EFE Agency) - "The state-owned
Venezuelan company Corpozulia is negotiating
with potential Brazilian and Argentinean
partners, the possible exploitation of
important carbon reserves in Venezuela
and the creation of an industrial integrated
pole.
General Carlos Martínez Mendoza,
President of Corpozulia, informed EFE
that the biggest advance so far has been
with Vale do Río Doce, the biggest
siderurgical company in Brazil, and one
of the main iron exporters in the world.
'We have signed a general agreement with
Vale do Río Doce', said Martínez
Mendoza.
(…) Carbon is used in high ovens
of iron reduction in the making of steel.
'We are studying the possibility of building
a joint siderurgica and stainless steel
plants', the official said, during a trip
he made together with President Hugo Chávez
to Rio de Janeiro.
The National Bank of Social and Economical
Development of Brazil (BNDES) has a credit
line with Venezuela for 1 million dollars
to finance projects with the participation
of private Brazilian companies, under
a mechanism of export financing.
Last September 15th, Vale do Río
Doce, Corpozulia and BNDES signed an agreement
memorandum in order to participate in
the joint exploitation of Venezuelan carbon
reserves, located in the western Zulia
state (…)
Corpozulia has carbon reserves of at least
400 million tons, to which we could add
50 million tons in underground mines".
