Iron man.(Panorama)(Companhia Vale do Rio Doce S.A.)(Usinas Siderurgicas de Minas Gerais S.A.)(Brief Article)

Companhia Vale do Rio Doce (CVRD) is on the move. The Brazilian industrial conglomerate signed a contract with Usiminas, a Brazilian steel maker, to supply the company with 25 million tons of iron ore over the next five years. The move comes on the heels of a seven-year, 4.1 minion-ton supply contract made three days earlier with the China Steel Corporation. CVRD also said its aluminum-producing unit Albras would buy US$405 million in electricity from Brazilian power company Eletronorte over a 20-year period beginning in June. CVRD said it would pre-pay the amount.

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