Bolivian media reported that Mr Gustavo Choque Velasquez has assumed the interim executive presidency of the Bolivian state run steelmaker El Mutun Steel Company, in order to carry out the strategic project for the industrialization of iron from the deposit located in the German Busch province in the department of Santa Cruz. Mr Velasquez replaced former CEO Mr Milko Alberto Moreno Antelo, who was appointed in March 2020.
Mr Gustavo Choque Velasquez has experience in the management of important state mining companies such as Corocoro in La Paz, Karachipampa in Potosi and Huanuni in Oruro, in addition to other jobs in the sector.
The El Mutun deposit has large iron reserves and is considered a strategic project. Construction works were first expected for 2017, and then for June 2018. Sinosteel started preliminary works in the area in July 2018. The complex should have a 650,000 tonnes per year capacity iron ore concentration plant, out of which it will produce 400,000 tonnes per year of pellets and 250,000 tonnes per year of sponge iron. The project should be completed in 30 months.