Bolivia to commence construction of El Mutun steel complex

Thursday, 10 January 2019 00:56:58 (GMT+3)   |   Sao Paulo
       

Bolivia should soon start construction of steel and iron ore complex El Mutun, a media report from La Razon said. Works should begin by the end of the month, according to the nation’s ministry of mining, Cesar Navarro. 

The Export-Import Bank of China, Eximbank, released $56 million near the end of 2018 for the project, to allow Sinosteel Equipment to commence construction. Bolivia’s state-run Empresa Siderurgica del Mutun (ESM) invested another $9.9 million, the media report said.

The project should be completed in 30 months. Construction works were first expected for 2017, and then for June 2018. Sinosteel started preliminary works in the area in July 2018.

The complex should have a 650,000 mt/year capacity iron ore concentration plant, out of which it will produce 400,000 mt/year of pellets and 250,000 mt/year of sponge iron. The Mutún iron and steel complex also includes a direct reduction plant, which would be attached to a rolling mill. The complex is expected to increase steel production gradually in different stages.


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