Uruguay disappointed with Indian group downgrading iron-ore project priority

Wednesday, August 3rd 2011 - 02:53 UTC

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The Uruguayan government was taken aback by the announcement that the Indian iron-ore mining group Zamin Ferrous has decided to downgrade the priority of its several hundred millions dollar project in Uruguay from position one to four. Read full article

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GeoffWard2
Politics is killing this project, and will seriously damage Uruguay's trade balance and GDP projections.
Foreign ore traders have seen Vale's creeping nationalisation and realise that the socialist nations of south america view ore projects as cash cows where the rules of the contracts can be changed by governments at a whim.
There really are safer places to win ore and invest.
Aug 03rd, 2011 - 05:37 pm - Link - Report abuse 0
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