Energy and Mines Minister Francisco Ismodes highlighted Shougang Hierro Peru’s expansion operations —whose investment reaches US$1.1 billion— will increase national iron production.
This investment will also contribute to creating more jobs, as well as generating higher revenue the Government will use for reducing poverty
Thanks to this expansion, Shougang
is expected to double its annual production of concentrated iron ore (from 10 million to 20 million).
This new phase includes a smelting plant and a seawater desalination plant, which will enable the company to process its concentrates.
According to the official, the Government will continue promoting responsible mining investments
that are deemed as good
social and environmental practices.
They will also have to comply with the law and provide decent employment to local people.
"We are confident that Shougang will continue on the path of good work with its employees and good relations with its neighboring communities. I invite you to continue investing in the country and betting on responsible development," he expressed.