China’s Sinosteel is analyzing samples of the Bolivian iron ore so it can study the concentration of the local commodity for later use at the Mutun iron and steel complex, Bolivia’s mining ministry said on Friday.
According to the Bolivian government, Sinosteel arrived in Puerto Suarez, Bolivia, and has taken some samples of the commodity to China for further analysis of the commodity’s concentration.
According to Jesus Lara, president of state-run company Empresa Siderurgica del Mutun (ESM), the research and concentration analysis of the material are the basis for the design of the iron ore and steel complex.
Lara said Sinosteel has been working ahead of time in its activities, so it can comply with the deadlines established in the contract signed by the Bolivian government and the Chinese company.
The executive explained that as soon as a credit from Eximbak is approved, Sinosteel will have four months to develop a study and a final design for the project, however, it should have the concentration analysis of the iron ore ready at that time.
“The concentration analysis is needed to make the study and the final design [of the project]. This takes much time and four months wouldn’t be enough to do it all,” Lara said.