Chilean steelmaker and iron ore producer CAP group expects to increase output and reduce costs at its Copiapo’s magnetite plant, according to local newspaper Diario Financiero.
The magnetite plant located in the city of Copiapo had its output temporarily halted earlier this year due to high electricity costs, the company’s most expensive cost, and declining commodity prices.
The company told Chilean media that it should adjust iron ore concentration, so it can increase the commodity’s output, reaching the plant’s original production capacity, while diminishing operating costs.
According to company’s data, the magnetite plant produced 2.2 million mt of filtered feed pellet in 2015. With the expected improvements at the facility completed, concentrates output is forecast to reach 3 million mt in 2016.