<p>Brazil's Manabi SA, an iron ore startup which wants to build a mine, pipeline and port, said Wednesday that its board has applied to fabrica de discos para molino en dinamarcathe Brazilian securities regulator for approval to sell stock in Brazil, Canada and the United States.</p>
<p>No amount for the sale was given, according to a statement filed with the regulator, known as the CVM. According to other company documents on file with the CVM, the company hopes to complete its financing plans by the end of the third quarter of this year.</p>
<p>The Brazilian and U.S. stock sales are to be managed by Credit Suisse Group AG, Banco Itau BBA SA and Goldman Sachs Group Inc..</p>
<p>The Canadian sale will be managed by Credit Suisse, Goldman Sachs and by Bank of Montreal's Nesbitt Burns unit.</p>
<p>Manabi expects to begin major construction in the first quarter of 2012, with the mine in Minas Gerais state due to start commercial production in the third or fourth quarter of 2015, the documents said, without saying how much the firm plans to produce.</p>
<p>Manabi is 60 percent owned by Brazil's Fabrica Holding. and 40 percent by U.S. based IronCo.</p>
<p>The company also has non-voting, preferred stock investors who have agreed to buy shares in a private placement. These include the Ontario Teachers Pension Fund, and Korea Investment Corp, according to a shareholders' agreement.</p>
<p>Ontario Teachers has been an investor in several other Brazilian iron ore ventures including MMX Mineracao e Metalicos SA, controlled by Brazilian billionaire Eike Batista.</p>