Chile’s CAP Group to increase investments in 2021

Tuesday, 23 March 2021 23:49:48 (GMT+3)   |   Sao Paulo

Chilean mining and steelmaking holding company, CAP Group, plans to increase its investments in 2021, according to a media report by Diario Financiero.

The media report said CAP Group should increase Capex spending from $288 million in 2020 to $459 million this year, a 59.3 percent year-over-year increase.

The forecast was unveiled recently by the company to a presentation to analysts. Out of the $459 million Capex investment forecast, CAP Group should dedicate 77 percent or $353.4 million to the mining segment alone, which includes its iron ore business. CAP Group expects to produce 16.5 million mt of iron ore in 2021.

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