State-owned metal trader China Minmetals Corp. announced on Friday that it would design and equip a blast furnace for Brazilian pig iron producer Cosipar.

The project, with a contract value of nearly 300 million yuan (US$42.2 million), would include project design, equipment, technical services and training for 450-cubic-meter blast furnace, said the company.

It was another major Latin American deal for Minmetal, which previously undertook a 2 billion yuan metallurgical equipment project for Brazilian steel plant Gerdau Acominas.

The company bought a majority stake in Northern Peru Copper of Canada in January, acquiring the property of El Galeno copper and gold mine and Hilorico gold mine in northern Peru.

Minmetals is the parent of Hong Kong-listed Minmetals Resources and Shanghai-listed Minmetals Development.