Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.

  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber, to reset your password go to the Platts Market Center to reset your password.

In this list

Bolivia inks deal for Mutun steel project with China's Sinosteel

Oil | Crude Oil

Citgo's fate hangs on PDVSA bond payment deadline

Marine Fuels

Platts Bunkerwire

Commodities | Metals | Non-Ferrous | Aerospace & Defense | Autos & Capital Goods | Materials | Building & Construction | Transportation

Aluminum Symposium 2020


Wave of protests hit Chile copper mines

Bolivia inks deal for Mutun steel project with China's Sinosteel

Sao Paulo — Bolivia Wednesday signed a contract to develop the Mutun iron and steelworks with China's Sinosteel Equipment & Engineering, Boliva's Corporacion Minera de Bolivia (Comibol).

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

Bolivian President Evo Morales signed the contract. "They (Sinosteel) will install the mill in two and a half years, delivering the industry and accompanying us during a year to manage our industry," he said in a Comibol statement. "After the contract ends they'll leave and the industry will be for the Bolivians, who will administrate it."

Construction is expected to begin in the next 180 days and is to take 30 months. With this timeframe, Bolivia expects to launch Mutun's operations in 2019.

Bolivia's plan is to build an iron ore concentration plant, with the installed capacity of 650,000 mt/year, a pelletizing plant and a direct reduction plant, with the capacity of 250,000 mt/year, and a steelworks with a continuous caster and a rolling mill to produce 150,000 mt/year of long products.

"Around 86,000 mt of sponge iron will be directed to exports, while the rest will be destined for Bolivia's domestic market," said Morales.

A second phase would revitalize the Mutun mine, including logistical upgrades to move ore from the mine to ports around the region.

The investment required for the steelworks would be around $460 million. About 85% would be funded by China and 15% by Bolivia. Sinosteel's final bid was $450.6 million.

Located in Santa Cruz state, Mutun contains 40 billion mt of iron ore deposits. The mine has a production capacity of 1 million mt/year of iron ore fines.

--Guilherme Baida,
--Edited by Richard Rubin,