Bolivian state-owned Empresa Siderurgica del Mutun (ESM) sold 20,000 mt of iron ore in Q1, the Bolivian mining ministry said this week.
According to the Bolivian government, the sale of the product in Q1 generated about $217,087 or BOB 1.5 million in revenues.
The Bolivian government said Argentinian steelmaker Acindar, owned by ArcelorMittal, received a portion of the 20,000 mt of iron ore sold.
As previously reported by SteelOrbis in July last year, the company was struggling to sell existing iron ore inventory. In 2016, it managed to sell just 3,000 mt of iron ore waste fines for a Paraguayan company.
The company explained low iron ore prices along with high port rates made it difficult for the company to produce iron ore and generate revenues.
ESM expects to produce 1 million mt of iron ore in 2017.