Sesa Goa to finalise Capex for mining project
Vedanta group firm Sesa Goa will finalise the capital expenditure plan for first phase of its Liberia iron ore mining project by January, a top company official said. The company is aiming to produce 10 million tonnes of iron ore per annum in the first phase from Liberia's Western Clusters project, in which it had acquired 51 percent stake for about USD 90 million (about Rs 411 crore) last year. Reserves (at Liberia) are much more than what we had anticipated earlier. Hopefully, by January we will be finalising the capex for the first phase (of mining), Sesa Goa's Managing Director P K Mukherjee said. He added that the company has completed over 31,000 metres of drilling at the project site and first shipment from the project will be delivered in 2013-13 as announced earlier.