CAP seeks to promote Asian market with offices in Hong Kong
– Began operations in the second quarter. It is located in Lippo Centre
– 90% of exports of its mining subsidiary are made to that market
Strengthening its presence in the Asian market. That is the goal that CAP is looking for with the opening of a sales office in Hong Kong. During 2012, consolidated sales of iron made by its subsidiary CAP Mining-both internal and external-market reached 12.24 million metric tons. Of this, 10.45 million metric tons were sold abroad and Asia represented 85%. “In aggregate, the Asian market represented 90% of total exports of CAP Mining. The latter figure is maintained at the end of the first half of 2013, “said commercial manager of CAP Mining, Germán Gajardo.
The new office, located in the Lippo Centre, a complex of two twin towers, began operations in the second quarter of this year, adding to those of other mining companies operating in China, like Brazil’s CSN (National Steel Company) and Samarco. “The main objective of this initiative is to support and strengthen the commercial management of CAP Mining in Asia, through technical marketing their products. Also, look for new business opportunities, “said Gajardo.
One of the reasons for the opening is about diversifying markets. “Since 2012 we have added as a destination for our exports to Bahrain, a country that at the end of the first half of 2013 already represents about 7% of total shipments of CAP Mining subsidiary” he said.
CAP Mining has 25 clients in Asia, mainly steel, buying pellet feed, self-fluxing pellets, fine ones and Chaff, representing these four products, 86.6% of shipments in 2012.
Source: La Tercera
