Thursday, August 10, 2006

Steel: Bolivia postpones $2.3 billion iron ore contract

Bolivia has postponed a $2.3 billion contract with Jindal Steel & Power Ltd., India's third- biggest steelmaker, to develop the Mutun iron ore mine, Planning Minister Carlos Villegas said.

A statement on the President's web site said that Bolivia had shelved the contract to negotiate a greater share of profits from the project, which includes a steel plant and a sponge iron factory.