It has the potential to be the biggest private investment in Uruguay’s history, but a heated political dispute is threatening to knock it off course. Minera Aratiri, the local subsidiary of the Indian mining company Zamin Ferrous, which was planning to invest US$3bn in developing iron ore deposits in the central departments of Durazno and Treinta y Tres, downgraded the project on its international priority list last week from first to fourth place based on a political and environmental dispute in Uruguay. It has been exploring an area of 120,000 hectares for iron ore for two years.
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