Sunday, December 02, 2007

Mining: Bolivia launches world's largest iron ore mine

Bolivia has announced Indian company Jindal Steel and Power could start operations to mine the biggest iron desposit in the world, located in the east of the country.

President Evo Morales formally launched the exploitation of the Mutun deposit, which is estimated to contain 40 billion tonnes of iron and 10 billion tonnes of magnesium.

The area, near the Brazilian border, is so remote that roads, electricity lines and buildings all have to be built.