Panama's Pacific Iron will begin pig iron production in July at its new plant in the town of Zipaquirá, 50km from Colombian capital Bogotá, board member Luis Guillermo Parra told BNamericas.
"We're developing a pig iron production project. We were surprised to learn that the area has abundant iron ore resources that are economically mineable," Parra said.
The goal is to begin operating with production of 100,000t/y of pig iron, according to Parra, and then to increase output.
The company invested US$12mn in the plant, which will produce 400,000t/y in a second phase, according to local press reports.
Pacific Iron will export all production, for which the logistics infrastructure is in place, according to Parra.
The company is also in the process of obtaining concessions for iron ore mining in Boyacá and Cundinamarca departments.