Shougang Hierro Peru to invest US$1 billion to double annual production

June 17, 2008

June 17th (Living in Peru) – Shougang Hierro Peru agreed Monday to start the project of its iron mine new zone in Marcona (Ica), which will demand an investment of around 1 billion dollars.

In the board of directors session carried out today the company approved the development of new mines, the implementation of infrastructure that includes a new benefit plant and a pellet plant.

The project aims to obtain an increase in the annual production capacity of eight million tons. Last year, the company production totaled seven million 711,000 tons of mineral.

Shougang Hierro Peru is a company of iron ore that belongs to the Chinese group Shougang from 1993.

Its mining center of metallurgical operations is located on the Peruvian coast, to 530 kilometers ( Lima’s south), in the district of San Juan de Marcona, Nazca province (Ica).

Shougang’s production obtained in Peru is mainly sent to the Chinese market.

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One Response to “Shougang Hierro Peru to invest US$1 billion to double annual production”

  1. Sovit Says:

    Hi,

    Any idea on the timeline of the investment and when are they planning to double the output. If I am not wrong the plans are also to increase the output to 20m tpy in a second phase investment.

    Sovit


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