28 de julio de 2015 / 21:59 / en 2 años

UPDATE 1-Brazil's Usiminas delays results to assess mining impairment

(Adds background on past delay, iron ore context)

RIO DE JANEIRO, July 28 (Reuters) - Brazilian steelmaker Usiminas said on Tuesday it will delay the release of second-quarter earnings to assess impairments to its mining division which has been hit by a steep fall in the price of iron ore.

Usinas Siderurgicas de Minas Gerais SA, as the company is formally known, did not give a new date for publishing the results that were scheduled for July 30.

The delay is the second time this year that Usiminas has postponed the release of financial results, as the embattled company struggles with weak domestic steel demand, lower iron ore prices and a boardroom battle between controlling shareholders.

Usiminas’ preferred shares have fallen 40 percent since May.

In order to comply with Brazil’s securities regulator, the steelmaker must report second quarter results by Aug 14.

In June, Reuters reported that Usiminas was laying off workers from one of its mines in the state of Minas Gerais due to a weak iron ore price which has halved over the past 12 months and is near its lowest in a decade. (Writing by Reese Ewing and Stephen Eisenhammer; Editing by Cynthia Osterman)

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