Brazilian company Companhia Vale do Rio Doce is amongst those companies who have looked at Helguvík in the southern peninsula in Reykjanes. The company, which runs iron manganese factories in Norway and France is looking to build a factory in the Icelandic inlet.
According to mayor of Reykjanesbær Árni Sigfússon, representatives of the Brazilian company came to Iceland earlier this month and a decision will be reached in the next couple of months on whether a factory will be possible. US companies have also been looking into setting up factories in Helguvík.
