China seeks to invest in the mining industry in Baja California

Category: News
Published: 2019-01-30

Countries such as China, Canada, India and US are interested in investing in the mining industry in Baja California, which represents 2% of the Gross Domestic Product (GDP) of the State.

The head of Secretaría de Desarrollo Económico del Estado (Sedeco), Carlo Bonfante Olache, said that China is very interested in investing in the entity, especially in the south of Ensenada.

“They want to come to set up a smelter in Ensenada, in order to capture the iron in the southern areas, so we are very interested in this project,” he said.

For this reason, it is important to create an integrated iron foundry that will detonate the economy in the region based on mining, which does not exceed 2% in the state.

“Compared to other states like Sonora with a GDP of 22%, there’s a lot to learn and develop regarding the mining industry” he added.

It is not a very strong industry, he said, but they have already started with the integration of Consejo Estatal Minero, which did not work during the last state administration.

“Today we have the advantage that we can transform these mineral products and at the same time there is an economic spill throughout the state,” said Bonfante.