You are here: Home > Steel News > Latest Steel News > Jindal...

Jindal Steel & Power halts Bolivian iron ore operations

Friday, 06 July 2012 01:02:17 (GMT+3)   |  
       

India's Jindal Steel & Power suspended its iron ore mining operations in Bolivia on Wednesday, according to international news outlets citing Jindal executives. As SteelOrbis previously reported, in early June Jindal said that the Bolivian government had 30 days to solve the issue of "non-fulfillment of the contractual obligations" by the South American government. However, it appears that efforts to save the project have failed.

Operations at the El Mutun mine in Bolivia were suspended and negotiations between Jindal and the government have ceased. According to a statement from Jindal, it has "suspended its contractual obligations and informed the government of its intention to terminate the joint venture contract for El Mutun." The government has until July 8 to express willingness to negotiate contractual obligations.

While Jindal has said the government failed to provide the necessary gas and infrastructure to maintain the operations, Bolivia's government blamed Jindal for violating the terms of its contract.


Similar articles

Iron ore prices in China gradually rise amid further stimulus hopes in Dec

21 Nov | Scrap & Raw Materials

Major steel and raw material futures prices in China – November 21, 2024 

21 Nov | Longs and Billet

Brazilian high-grade iron ore price increases from last week

20 Nov | Scrap & Raw Materials

India’s KFIL installs third oxygen plant at its Koppal mill

20 Nov | Steel News

Tata Steel ferroalloys division first in India to publish environmental protection declaration

20 Nov | Steel News

Daily iron ore prices CFR China - November 20, 2024

20 Nov | Scrap & Raw Materials

Major steel and raw material futures prices in China – November 20, 2024 

20 Nov | Longs and Billet

China’s iron ore output up 2.8 percent in January-October

20 Nov | Steel News

Daily iron ore prices CFR China - November 19, 2024

19 Nov | Scrap & Raw Materials

India’s KIOCL seeks overseas suppliers for iron ore concentrate-hematite for its pellet plant

19 Nov | Steel News