Zibo Hongda Unit Plans $1.5 Bln Peru Iron-Ore Mine: Comercio

Jinzhao Mining Peru SA, a unit of China’s Zibo Hongda Mining Co., plans to build a $1.5 billion iron-ore mine in Peru by 2016, newspaper El Comercio reported, citing country manager Xiaohuan Tang.

The company aims to produce between 3 million and 5 million metric tons of iron ore a year at its Pampa del Pongo deposit in the southern Andes, the Lima-based newspaper said,

The company, which plans to build its own port and desalination plant, will complete a feasibility study by the end of the year, El Comercio said.

Jinzhao’s office in Lima didn’t immediately answer calls by Bloomberg News seeking comment.

To contact the reporter on this story: Alexander Emery in Lima at aemery1@bloomberg.net

To contact the editor responsible for this story: James Attwood at jattwood3@bloomberg.net

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