MCC Argentina project to ship iron ore to China

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

30 Dec 2008

According to Mr Tamara Balda, GD of Mining Industry and Water Conservancy Bureau in Rio Negro province of Argentina, China Metallurgical Group Corporation's iron ore project in Argentina will resume production in March 2009 and will ship the iron ore to China in the H1 of next year. He said that the MCC acquired 70% shares of Sierra Grande Iron Mine in 2006. The mine was located in Rio Negro, a southern province of Argentina. The MCC possesses the rights to operate and manage the mine and has established a subsidiary to conduct the operations.
Mr Han Yongzhi, the GM of the new established subsidiary said that the governor of Rio Negro province about the production resuming process and the 2009 working plan. He said that the subsidiary has strengthened the efforts to speed up the resuming process and has laid a solid foundation for next year's overall production resume.
Mr Tamara Balda said that the iron ore output of Sierra Grande was 30,000 tonnes in August and has reached 44,000 tonnes in November.
According to the MCC, Sierra Grande Iron Ore Mine will resume full production in March 2009 and will ship the iron ore to China in April and May next year.
The new established subsidiary has employed 400 staffs currently of which 320 are Argentine. The subsidiary also hopes to recruit more technicians and workers through local universities and training institutions.
Sierra Grande is located 310 kilometers south from Viedma city and was started to operate since 1970s. Then Sierra Grande was closed in 1991. After acquisition taken by MCC, the total investment in Sierra Grande has reached USD 130 million.

Source: My Steel