Peruvian iron ore producer Shougang Hierro Peru's board has authorized the company to begin a major investment program to increase its output capacity by 8m tonnes/year.
The project foresees installation of a beneficiation unit and a pelletizing plant, besides mine development in Marcona (southern Peru). In total, Shougang is expected to invest around US$1bn in the program, Steel Business Briefing learns from a company announcement.
As previously reported, the upgrade is expected to be concluded by mid-2010 and will virtually double Shougang’s capacity to 16m t/y. The company is also considering a second expansion phase that would eventually increase output to 20m t/y.
Publication: SBB - Steel Business Briefing
Provider: Steel Business Briefing
Date: June 25, 2008
6/25/08
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