Construction on Bolivian iron ore and steel complex Siderurgica del Mutun (ESM) is expected to be concluded in December, according to company president Jorge Alvarado Rivas.
Rivas added that with the conclusion of the works, the operations will start during the first quarter of 2024, in a ramp-up process toward the 200,000 mt per year capacity of the steel plant.
When operating at full capacity, the production of the plant will replace 50 percent of the steel products currently imported by Bolivia, generating 700 jobs domestically, Rivas added.
According to Rivas, the iron ore production of the complex is expected to reach a pace of 840,000 mt per year in the short term, including lumps and fines with a 65 percent iron contents.
This year, total iron ore sales should reach 386,000 mt, of which 255,000 mt to be exported from the Bush Port, via the Paraguay River, to markets in Europe.