November 22, 2008

Shougang Hierro Peru to start iron mine project in Marcona

ANDINA reported that Shougang Hierro Peru agreed to start the project of its iron mine new zone in Marcona which will demand an investment of around USD 1 billion.

In the board of directors session carried out recently the company approved the development of new mines in the implementation of infrastructure that includes a new benefit plant and a pellet plant.

According to the report, the project aims to obtain an increase in the annual production capacity of eight million tons. Last year, the company production totaled 7 million tonnes of mineral.

Shougang Hierro Peru is a company of iron ore that belongs to the Chinese group Shougang from 1993.