17:26 | Lima, Aug. 05 (ANDINA).
Brazilian mining giant Vale has formally started production at its US$566-million Bayovar phosphate mine in Piura, northern Peru.
The mine, which is part owned by Mosaic Co. (MOS) and Mitsui & Co. (MITSY, 8031.TO), is due to have a maximum annual production capacity of 3.9 million tons of phosphate rock by 2012 and could eventually increase to up to 5.9 million tons.
This year it is expected to produce about 1.0 million metric tons of phosphate rock, rising to 2.8 million tons in 2011.
Located in Sechura Desert in the department of Piura, Peru, the Bayóvar phosphate rock mine was officially inaugurated today by President Alan Garcia.
A total of US$566 million has been invested to implement one of the biggest phosphate rock deposits in South America.
The mine’s output will mainly be exported to Brazil, North America and Asia. Vale’s investments in this sector are transforming the company into a major supplier of raw materials enabling higher agricultural production.
In addition to an open-pit mine, the Bayóvar venture includes a concentration plant, a 32-kilometer road for heavy vehicles, a truck unloading area, a conveyor belt, a drying and storage yard, a port, a seawater pipeline and power transmission lines.
In implementing the project, Vale has prioritized the hiring of local people. Approximately 1,300 direct and indirect jobs were generated for the people of Sechura during the implementation phase, and around 300 local people are currently employed as the operational phase begins.
(END) EEP
Publicado: 5/8/2010