Reportedly, India’s Jindal Steel & Power Ltd (JSPL) will continue talks with two other African miners while ending talks with Afferro Mining Inc. after assessing its Cameroon iron ore reserves. JSPL is estimated to invest as much as US$2 billion to build railway lines and related infrastructure for the project. The company has long been searching for steelmaking raw materials outside India for iron ore supply. Restrictions to curb illegal mining and environment damages in India are forcing steelmakers to either import ore or purchase mines overseas to ensure supplies. Analysts said that related restriction will on the contrary hamper Indian large steel investments.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=62570&division=A9
