Chingy, I know nooothing! Contract is under negotiation, so I definitely don't! However, I've got in my head, something about 25M options to Gerdau. Could be from another company though!

All we have in writing however, is:

(ii) rules for a potential investment and share acquisition from Gerdau into FGR, if predetermined sales and investment targets are achieved by Gerdau.

Normally if you're talking about targets, its done by options, from what I've seen. But let's see.

Given its got its own conveyors though, and that's the focus.., I wouldn't be surprised if its first client was... itself. Might go for a hunt and see what I find on this...

https://do not advertise external sites/Article/3126580/Gerdau-gets-installation-licence-for-iron-ore-conveyor-belt.html

Gerdau gets installation licence for iron ore conveyor belt

Gerdau has obtained the installation licence for construction of a conveyor belt connecting its Miguel Burnier iron ore mine and its Açominas steelworks, both in the state of Minas Gerais, in south-east Brazil.