The Wall Street Journal has reported that India's Sesa Goa, which owns Liberia's western clusters project, will officially start iron ore mining operation by the end of this year. Sesa Goa took over the western cluster iron deposit from the Israeli company Elinelto after it spent US$123.5 million to purchase the entire stake in the project. Elinelto's selection as winner of the western cluster was discernibly criticized by the public, arguing that the company lacks the financial capability and the experience to operate the western cluster; hence, Elinelto sold out in millions without throwing a shovel.
The Iron Ore deposit in Liberia's western cluster is reported to be in excess of one billion metric tons. Already, the company has started some sort of operations, trucking tons of iron ore from western Liberia to the Freeport of Liberia for export. Indian iron ore suppliers such as Sesa Goa are looking to expand overseas as mining in India has been hit by court restrictions following investigations into illegal mining. India was the world's third-largest iron ore exporter until two years ago, but it has now started importing the raw material because of a domestic shortage.
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