DNA reported that Jindal Steel and Power Ltd plans to start sale of iron ore from its huge ore reserves in Bolivia this quarter.

Mr Sushil Maroo director and group chief financial officer of JSPL said though the company cannot give an exact date for the start of sale from its Bolivian reserves, it plans to do it in the first quarter.

Mr Maroo said that “We want to sell iron ore in the first year, though there is no target or plan as to how much we will sell.”

He said the company is also looking at setting up a pellet plant at the Bolivian site, but no dates have been freeze so far.

The company has access to close to 40 billion tonnes of ore reserves in the El Mutun mines in the Latin American country and plans to set up a 1.7 million tonne steel plant. It has been talking of starting production from the mines since it received a nod from the Bolivian government in August but nothing substantial happened since then.

(Sourced from www.dnaindia.com)