Bolivia’s state-run producer Empresa Siderurgica del Mutun (ESM) is struggling to sell some 500,000 mt of iron concentrates, according to local media reports.
The company has been idled since August 2015 due to declining commodity prices. So far, it hasn’t closed any deals due to logistics and weak prices for the commodity globally.
Part of the problem that led the company to have inventory it can’t sell is ESM’s difficulties in transporting the product to the port, according to reports.
ESM owes its workers some BOL 1.2 million in wages.