Vale says start of Posco, Dongkuk Brazil steel mill delayed to 2016

jueves 30 de julio de 2015 06:19 GYT

RIO DE JANEIRO, July 30 (Reuters) - Brazilian mining company Vale SA said on Thursday the start up of Cia Siderurgica do Pecem (CSP), a Brazilian steel mill being built with Korea's Posco and Dongkuk Steel Mill Co , will be delayed until the first half of 2016 from the second half of 2015 because of a strike.

Vale also said its planned share of capital spending on the 1.5-million-tonne-a-year project fell by more than half to $1.224 billion in the second quarter because CSP will finance $1.49 billion of expenses on its own account. (Reporting by Jeb Blount; editing by David Clarke)