Indias Jindal Steel to tap Bolivia iron ore deposit in 2.3 bln usd dealadmin
Bolivia’s government is expected in the next six weeks to approve a 2.3 bln usd bid by Jindal Steel and Power of India to extract one of the world’s largest untapped iron ore deposits, the Financial Times reported.
It is the most significant example of a country with no record of financial involvement with Bolivia voicing interest to invest.
The move comes at a time when relations with traditional investors such as Petrobras of Brazil and Repsol of Spain are close to breaking point, following President Evo Morales’ decision to nationalise the country’s gas sector.
Bolivia’s extensive mineral deposits are also being eyed by Russia and Australia, the newspaper added.