Marcelino Quispe, Mining Minister, presided over the protocol act at the Coliseum of the Vinto Metallurgical Company to sign the commitments between this company and the Chinese consortia Enfi-Crig and Chonh Qing Cisdi Engineering Consulting LTD, respectively.
“The government of the brothers Luis Arce Catacora and David Choquehuanca Céspedes once again keeps its word by taking a further step in the desire to realize this important work, which is part of the industrialization project with a view to the bicentenary,” said Quispe.
Addressing local authorities and representatives of social organizations, the owner explained that this work strengthens the industrial development of mining in Oruro and is a pioneer in this field at the national level.
The refinery plant will be installed on the premises of the Vinto Metallurgical Company.
During the ceremony it was reported that this industry will have an important social-labor policy impact as it will create jobs and regional development.
During the construction phase there will be 800 direct (temporary) and 500 direct permanent jobs as well as two thousand indirect jobs.
At the national level, it will strengthen the mining and metallurgy chain by adding value to this resource while impacting the training of a highly skilled workforce.
From an economic perspective, this project will provide the plurinational state with greater tax revenue and royalties that will benefit the government and communities producing metal concentrates.
The Oruro complex will be built on an area of 30 hectares on the property of the Karachipampa Metallurgical Company and will have an annual treatment capacity of 150,000 tons of concentrates and a production of 65,000 tons of metallic zinc technology minerals such as indium, gallium and metallic silver, in addition to the extraction.
This new industry will smelt and refine zinc for sale on the international market.
According to Mining and Metallurgy, the signed contract will be sent to the Ministry of Development Planning along with other supporting documents.
With such elements, this portfolio will manage the signing of the financing contract or the loan already guaranteed with Eximbank of China.
As part of the government’s import substitution industrialization policy, Bolivian authorities hope that this plant will begin operations in the bicentennial year (2025).
Bolivia is currently the ninth largest exporter of zinc minerals in the world.
rgh/jpm