Government Still Awaiting Proposals For El Mutún Project


News: The Bolivian government has not yet received any proposals to develop remaining 50% iron ore deposits of the El Mutún steel project, according to President Evo Morales (BNamericas). Local steel company Empresa Siderúrgica Mutún (ESM) is developing the other 50% of the steel project. However, ESM has been exporting iron ore from El Mutún but needs to install a steel plant in the area, added Morales. Previously, India-based steel and energy company Jindal Steel and Power terminated its contract to develop the US$2.1bn El Mutan steel plant in July 2012. Following the termination, the Bolivian government has been awaiting proposals for the remaining 50% of the iron ore deposit.

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Related sectors of this article: Metals
Geography: Bolivia