International Briquettes Holding, IBH is the company's briquette division. It includes subsidiaries Venprecar and Orinoco Iron, both engaged in the production and marketing of hot briquetted iron ("HBI"), used as a substitute for high-quality scrap in the steel production process. IBH's sales are mainly destined for the export market and the main clients are steel mills located in the United States, Europe and recently, Asia.
Approximately 18% of the shares of IBH are publicly held and are negotiated in the Caracas Stock Exchange or in the Over-the-Counter or OTC Market of the United States of America. CVG Ferrominera is a partner of this division.
IBH's Plants
Venprecar
Venezolana de Prerreducidos Caroní, C.A. is located in the industrial zone of Matanzas, Puerto Ordaz. It is a Midrex technology plant with a rated production capacity of 815 thousand metric tons per year. It is fed with pellets and iron ore lumps.
Orinoco Iron
Orinoco Iron S.C.S. is located in the industrial zone of Matanzas, Puerto Ordaz. It is a Finmet technology plant, with a rated production capacity of 2.2 million metric tons per year. It is fed with iron ore fines.
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