Jindal plans Namibia’s second iron ore mine

Source: REUTERS

Indian steelmaker Jindal Steel and Power Ltd. has plans to open another iron ore mine in Namibia, as per a recent report by Reuters.

Will initially produce 1 million tonne

Plans to open Namibia’s second iron ore mine are being pursued by an Indian-controlled company called Blake Trading, documents seen by Reuters show.

Forty-year lifespan

The group, which is majority owned by a subsidiary of Indian steel giant Jindal Steel and Power called Jindal Steel and Power Mauritius Ltd, expects the planned mine east of the capital Windhoek to have a potential lifespan of 40 years.

Mining is an important contributor to the South West African country’s economy and added 11.1% to its GDP during 2016, the Namibian Statistics Agency says.

Iron ore mining at the new facility will begin with the processing of one million tonne of ore per year, increasing to 10 million tonne thereafter, the documents show.

Source: REUTERS