China’s Jinzhao Mining, which was awarded an environmental license for its Pampa de Pongo iron ore project in the region of Arequipa, Peru in January 2015, expects to start-up the construction of the mine by Q2 2018, said a media report from Peruvian newspaper Gestion.
The project includes a mine, a beneficiation plant, as well as a slurry pipeline. Jinzhao plans to invest $2.5 billion in the project for the next two years, the media report said, citing a company executive, with iron ore sales commencing by Q3 2019.
Currently, Peru has only one iron ore producer, Shougang Hierro Peru.