China's Zibo Hongda Mining to Develop $1.5B Iron Ore Mine in Peru

  • Wednesday, May 15, 2013
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  • Keywords:iron ore
[Fellow]China's Zibo Hongda Mining Co., has plans to build
[Ferro-alloys.com]China's Zibo Hongda Mining Co., has plans to build a $1.5 billion iron-ore mine in Peru by 2016, indicating China is still investing heavily in iron ore capacity outside the country.
 
The company aims to produce between 3 million and 5 million metric tonnes of iron ore a year at its Pampa del Pongo deposit in the southern Andes.Pampa de Pongo is an iron deposit with projected reserves of 1.2 billion tonnes of iron grading 43.6%.
 
The Peruvian subsidiary of Zibo Hongda Mining, a subsidiary of Nanjinzhao Group, acquired the Pampa de Pongo iron ore deposit in 2009.
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