JSPL Likely To Ship Iron Ore From EI Mutun Mines
Thursday, the media reported that Jindal Steel and Power is likely to ship iron ore from EI Mutun mines in Eastern Bolivia through the Paraguay river using port facilities at Corumba. Brazilian mining majors like MMX, Vale and Rio Tinto are using the port facility of Corumba for shipping iron ore and pig iron.
The Managing Director of JSPL in Bolivia, Pritam Singh Rana, visited Corumba’s officials to discuss projects and investments at the river port and is eyeing on business opportunities in Brazil.
JSPL is likely to begin shipments from its EI Mutun mines later this year and is to ship its first ore by October. The company got Bolivia government’s approval for the project in November 2007. The company is to develop iron ore deposits at an investment of $2.1billion and build a 1.7 million tonnes per year direct -reduced iron plant and 1.4 million tonnes per year steel making plant.
