Sesa Goa, a Vedanta Group company is likely to startexploration later this week at its Liberian iron ore project that isestimated to hold reserves of over 1 billion tonnes. It had acquired51% stake in Western Clusters, which is developing the project forabout $90 million (Rs 411 crore) in the last year.
Thecompany has got the licenses for all the three blocks. It has completedthe aeromagnetic survey of the Liberian iron ore reserves and SesaGoa’s capital expenditure plan for the project will be known in next2-3 months.
Besides, the iron ore miner has kepta production and sales guidance of 15 million tonnes (MT) from Goa inthe current fiscal. Last year, the company added 68 million tonnes ofreserves and resource, thereby taking its total mining reserve base to374 MT.
