According to Bolivian Agency of Information, the Bolivian government has requested Indian steelmaker Jindal Steel & Power Limited to start manufacturing steel at its El Mutún iron ore works by 2014, its fifth year of iron ore production.

Mr Luis Alberto Echazu minister of mining & metallurgy of Bolivia said that "Jindal will begin early production of the minerals to exploit and export up to one million tonnes of concentrates, as the clause in the production of the contract describes, which is now law. Jindal will start up, in a few months, the first loads of this production, which also implies the anticipation of steel production."

Jindal signed a contract with the Bolivian government in 2007 to mine the Mutún iron ore deposit, which is the largest of its kind in the world. Jindal agreed to invest USD 1.5 billion initially and an additional USD 2.5 billion over the following eight years. The investment also includes on site steelworks.

(Sourced from www.steelorbis.com)
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