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Venezuela's Aluminum Production Continued To Decline Last Year

Mar 30, 2016

Venezuela's Ministry of Industry said in its annual report, in 2015 the Venezuelan aluminum production continues to decline, but iron ore production increased slightly, due to labor dispute last year, investors cautious and deep recession. Venezuela is Latin America's largest aluminum producer, producing 90,795 tons of aluminum last year, down 15% compared with 2014. The Government said it hoped the amount of minerals can pick up this year, but President Nicolas Maduro has asked the country's shipping companies to reduce the amount of metal in order to help implement energy saving plans. Venezuela's state-owned Ferrominera company is the largest producer of iron ore in 2015, the annual output of 1,200 tons, compared with 1,100 tons in 2014, an increase of 9%, which is one of the worst year of production. However, this data is still far below its 2,500 tons of production capacity. State-owned enterprises Sidor is Venezuela's largest steelmaker, increased slightly 2015 annual production of 1.06 million tons of liquid steel, still well below its production capacity of 5 million tons.