(Adds details on insurance coverage)
RIO DE JANEIRO, April 26 Brazilian steelmaker
Companhia Siderúrgica Nacional has resumed iron ore exports
using an alternate port while trying to repair damaged equipment
in its Itaguaí port, a source with knowledge of the matter said
CSN, as the company is known, is temporarily using the
Sudeste port, owned by Mubadala Development Co PJSC,
the source added, without saying exactly when CSN resumed
Additional costs incurred in using the alternate port and
repairs of damaged equipment are being paid by insurance
policies, the source added. An accident on April 15 interrupted
CSN's iron ore exports.
Analysts at Grupo BTG Pactual estimate iron ore
sales generate about half of CSN's earnings before interest,
tax, depreciation and amortization, a gauge of operational
profitability known as EBITDA.
The company intends to resume the exports via its Itaguaí
port by May, the source added. CSN did not immediately comment.
(Reporting by Rodrigo Viga Gaier; Writing by Tatiana Bautzer;
Editing by Sandra Maler and Jonathan Oatis)