Iron

Platts reported that CVG Ferrominera Orinoco, the sole iron ore producer in Venezuela, has reactivated its Cerro Bolivar mine after being closed for 18 years.

Platts reported that CVG Ferrominera Orinoco, the sole iron ore producer in Venezuela, has reactivated its Cerro Bolivar mine after being closed for 18 years.

As quoted in the news:

The mine still has reserves of around 18 billion mt of ore, most of it with 64.4 percent iron content, and a remaining lifetime of 30 years. FMO said it plans to extract around 800,000 mt of iron ore from the mine in a first phase of new work, with about 500,000 mt of that containing high Fe content. The mine has the capacity to produce around 4 million mt/year, it said.

Click here to read the full Platts report.

 

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