Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes _______ No ___X____
COMPANHIA SIDERÚRGICA NACIONAL
Publicly-held Company
Rua São José n° 20, Grupo 1602, parte
Rio de Janeiro/RJ
Corporate Taxpayer’s ID (CNPJ) 33.042.730/0001-04
NOTICE TO THE MARKET
COMPANHIA SIDERURGICA NACIONAL informs its shareholders and the market, in addition to the Notice to the Market released on August 20, 2008 and the Material Facts released on September 29, 2008, October 17, 2008 and October 21, 2008 related to the strategic partnership involving the sale of 40% of the capital stock of Nacional Minérios S.A. (“NAMISA”), the following:
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NAMISA shall receive investments of US$2 billion in order to make its expansion plan feasible, planned as follows: | |
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US$700 million in the processing plant of crude ore which will be purchased from Casa de Pedra. In the long-term, NAMISA will receive a volume of crude ore enough to produce 20 million of final product. | |
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US$100 million to increase the production capacity of NAMISA’s assets. | |
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US$1.2 billion will be used in the construction of two pelletizing plants with capacity of 12 million tonnes of pellets. | |
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Namisa is studying several ways to finance its investments, including a possible participation of international banks in fostering infrastructure and development projects. | |
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NAMISA’s estimated mineral resources are of approximately 2 billion tonnes, with estimated reserves of 600 million tonnes, with an iron percentage between 40% and 60%. | |
| • | NAMISA’s production and sales schedule is as follows: | |
| 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | ||||||||
| Sales | 18,170 | 21,181 | 21,181 | 30,131 | 38,364 | 38,964 | 38,964 | |||||||
| Third parties | ||||||||||||||
| Purchase | 5,400 | 5,400 | 5,400 | 5,465 | 7,800 | 6,000 | 6,000 | |||||||
| NAMISA | ||||||||||||||
| Production | 12,770 | 15,781 | 15,781 | 24,666 | 30,564 | 32,964 | 32,964 | |||||||
Rio de Janeiro, November 4, 2008
Companhia Siderúrgica Nacional
Otávio de Garcia Lazcano
Investor Relations Executive Officer
COMPANHIA SIDERÚRGICA NACIONAL |
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By: |
/S/ Benjamin Steinbruch
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Benjamin Steinbruch
Chief Executive Officer |
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By: |
/S/ Otávio de Garcia Lazcano
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Otávio de Garcia Lazcano
Chief Financial Officer and Investor Relations Officer |
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This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.