Chinese firm Vicstar Union Engineering has been awarded a $50m contract to build a new tin processing plant near the Huanuni Mine in Bolivia.

Vicstar Union Engineering is a joint venture formed by Shenzhen Vicstar and Shandong Gold Group’s Yantai Design and Research Engineering.

The processing plant will have capacity to process 3,000t of tin a day and will start its operations in the next two years.

Bolivia’s mining minster Jose Pimentel said the plant will extend the life of Empresa Minera Huanuni by 25 years.

Tin from Huanuni mine is cuurently being processed at a nearby smelter, which is operated by Empresa Metalurgica Vinto, reports Fox Business.