The Bolivian El Mutun steel complex halted operations just two weeks after opening, sparking rumors of technical issues and local media claims that it is a white elephant.
Jorge Alvarado Rivas, Chief Executive Officer of the complex, announced that equipment testing was completed successfully and all facilities operated reliably without any malfunctions.
Rivas stated that production was halted because of difficulties obtaining imported raw materials, a shortage of foreign currency, and issues acquiring diesel fuel.
"The steel complex isn't stopped; it's awaiting inputs," he said.
Regarding the requests for auditing procedures, Rivas stated that he is available to meet with the authorities to discuss the matter.
El Mutun comprises seven facilities: iron ore concentration, pelletizing, DRI, steel manufacturing, rolling, an electric center, and support services. Its annual output capacity for rebars and wire rod reaches 200,000 metric tons.