MINING|
Jindal ends rumours in Bolivia. On 8 June, Indian company Jindal Steel Bolivia (JBS), sent a letter to the government of President Evo Morales confirming its intention to terminate the US$2.1bn contract for the development of the El Mutún iron ore mine – the biggest investment by any foreign company in a single project in Bolivia and the largest investment by an Indian company in South America. The announcement ends months of run-ins between the government and mining company. Rumours regarding the company’s exit came to a head last month after the company announced it was planning to start legal proceedings against the government in response to an US$18m official fine handed down for
breach of contract.End of preview - This article contains approximately 285 words.
Subscribers: Log in now to read the full article
Not a Subscriber?
Choose from one of the following options