Jindal to Begin Bolivian Iron Ore Exports

20 January 2011 (Last Updated January 20th, 2011 18:30)

India's Jindal Steel and Power is planning to begin iron ore exports from its El Mutun mine in Bolivia from March. The company will invest about $280m and expects up to a million tons of exports during the first year. Under a 40-year contract signed with Bolivian Governmen

India's Jindal Steel and Power is planning to begin iron ore exports from its El Mutun mine in Bolivia from March.

The company will invest about $280m and expects up to a million tons of exports during the first year.

Under a 40-year contract signed with Bolivian Government in 2007, Jindal has the right to mine about half the El Mutun site, estimated to contain huge iron ore reserves.

The operations of the $2.1bn project have been delayed due to legal disputes between Jindal and Bolivia's leftist government, according to the Economic Times.