Machinery arrives in Bolivia for massive iron ore mining project

Tuesday, 24 March 2009 17:36:01 (GMT+3)   |  
       

Bolivian state-owned mining company Empresa Siderúrgica del Mutún (ESM) reported to the Bolivian Agency of Information on Saturday that 100-200 people will be hired to install the machinery to start operations at what will be the largest iron ore mine in Bolivia.

The machinery arrived on site this week and installation will commence shortly. Pedro Vargas, ESM's finance and executive manager, said that this is the very first hiring move to start the project, owned by India's Jindal Steel and located in Mutún, Bolivia. Mr. Vargas said that the first formal hiring phase will add another 1,000 employees, and that the project should generate an additional 10,000 indirect jobs.

Vargas also said that, due to the complexity and scope of the project, the mine will not reach maximum output until its sixth or seventh year of production.

Mutún contains one of the largest iron ore and manganese reserves in the world. The mine's surface area extends approximately over 65 square kilometers and contains an estimated 40 billion metric tons of iron ore.


Similar articles

Iron ore prices drop by over $9//mt week on week, mood remains bad

28 Mar | Scrap & Raw Materials

Goa government to ease policy for liquidating iron ore dumps lying on private land

28 Mar | Steel News

Major steel and raw material futures prices in China - March 28, 2024

28 Mar | Longs and Billet

CISA: Coking coal purchase cost in China down 9.86% in Jan-Feb

28 Mar | Steel News

Brazilian high-grade iron ore price declines sharply in two days

27 Mar | Scrap & Raw Materials

Daily iron ore prices CFR China - March 27, 2024

27 Mar | Scrap & Raw Materials

India’s JSPL takes operational charge of iron ore complex in Venezuela

27 Mar | Steel News

Major steel and raw material futures prices in China - March 27, 2024

27 Mar | Longs and Billet

Vale selected to begin award negotiations for US briquette plant

26 Mar | Steel News

Daily iron ore prices CFR China - March 26, 2024

26 Mar | Scrap & Raw Materials