It is reported that Venezuela year to year iron production increased by 21% in 2011 with output at 17 million tons last year. However, the figure is still far from installed capacity of 25 million tons per year.

Iron, aluminum and steel industries in Venezuela are producing below capacity, as a result of a divestment process and the lack of technological adequacy, along with a serious electricity crisis that led to power rationing in 2010. This energy crisis has not been overcome.

Mr Radwan Sabbagh president of Ferrominera Orinoco said "We are celebrating this significant achievement with the productive recovery of our company. Our goal is to produce 20 million tons in 2012."

(Sourced from www.eluniversal.com)