December 02, 2008

JSPL to start iron ore mining at El Mutun by 2008 end

It is reported that Jindal Steel & Power Ltd, which received a license from the Bolivian government for exploration work at the El Mutun iron ore mine, expects to start iron ore mining by the end of 2008.

Mr Navin Jindal vice CMD of JSPL told reporters that “We expect mining to start by the end of this year.”

JSPL plans to invest USD 2 billion in the mining and steel project in Bolivia. It will set up a 2 million tonne steel plant, which is expected to be completed by 2011. It also intends to set up a 6 million tonne sponge iron unit in Bolivia.