Beijing: Zibo Hongda Mining from Shandong, China is planning to invest $1.5bn to develop an iron ore project in Peru by 2016 through its subsidiary Jinzhao Mining Peru SA.
Hongda Mining aims to produce between 3m and 5m tonnes of iron ore a year at its Pampa del Pongo deposit in the southern Andes. It is also doing a feasibility study on building its own port and desalination plant, which is expected to be completed by the end of this year.
Jinzhao Mining Peru acquired the Pampa de Pongo iron ore deposit in 2009. [15/05/13]
