Chilean iron ore and steelmaking holding CAP Group told local newspaper Pulso the company expects an improved year following a halt at its Port of Guacolda II.
“(Last year) was a challenging year for CAP Group, due to the halt of Port of Guacolda II,” CEO Rodolfo Krause said. “We lost 40 percent of our shipping capacity for (Cap Mineria), the key revenue making company we have.”
CAP Group halted operations at its Port of Guacolda II in November 2018 following an accident. In December 2019, the company said it expected to resume iron ore shipments at the port “in the next few days,” which did not happen.
“No doubt we expect a normalized 2020 for CAP Group,” Krause said, adding that the Port of Guacolda II should “soon” resume activities.
CAP Group is also reportedly considering an expansion of output at its other sites in Atacama and Coquimbo regions. As for steel, the company said it plans to offer processing steel services in Chile and Peru through Cintac.