Start-up of Fancesa project postponed to Q1 2021

The coronavirus pandemic has seen a readjustment of the work schedule of the new plant being built in Sucre, Bolivia, by Fancesa as COVID-19 forced a 70-day quarantine upon the project. Start-up of the cement plant is now expected in the first quarter of 2021. While the project currently stands at 91 per cent completion, the remaining share of the work is the “most complicated”, according to Armin Cortez, chairman of the Board.

Oil prices dropped 8% due to fear of second wave of Coronavirus

Oil prices plunged on Thursday as investors worried about the risk of a second wave of Covid-19 and doubts about the dynamism of the economy's recovery. The WTI barrel in New York for July delivery lost 8.2% to $36.34. And in London the North Sea Brent barrel for delivery in August ended at US$ 38.55, … Continue reading Oil prices dropped 8% due to fear of second wave of Coronavirus

Bolivia’s ESM to export 250,000 mt of iron ore to Argentina and Germany

Bolivian state-run iron ore and steelmaking company Empresa Siderurgica del Mutun (ESM) plans to export 250,000 mt of iron ore to clients in Argentina and Germany by year-end, the Bolivian ministry of mining said. ArcelorMittal’s Argentinian subsidiary, Acindar, and ThyssenKrupp in Germany should get the commodity. The 250,000 mt iron ore shipment should generate $7.1 million in revenues.