South Korean steelmaker Hyundai Steel has announced that it is seeking to import iron ore from the Port of Manzanillo in Mexico, according to a statement by the Port Authority of Manzanillo.
The port statement said that the first iron ore shipment of 70,000 mt could be made at the end of this year. At the first stage, Hyundai Steel is planning to import 210,000 mt of iron ore per month from the port.
Hyundai Steel has been working with mining companies in the region for the last two years. The company is also considering building its own iron ore processing plant in Mexico to later export processed material to its South Korean plants.