ANANTAPUR: Rayadurg Steel Plant Udyama Committee has demanded that the rich iron ore available in the mines of Obulapuram in D. Hirehal mandal be utilised for setting up a steel plant in the .
Ghana aims to process its iron ore locally by 2027 as part of plans for steel production to boost economic growth, a target that's part of a continent-wide push to add more value to natural resources at home.
Rio Tinto has been solely funding preparatory work at the blocks it holds at Simandou, one of the world's largest untapped iron ore deposits, as its Chinese partners are yet to make their funds available, two sources close to the matter said. The Anglo-Australian miner owns two of four Simandou mining blocks as part of its Simfer joint venture with China's Chalco Iron Ore Holdings (CIOH) and the government of Guinea, where the mine is located. It has so far spent more than $500 million on developing the project that should have been split with CIOH, due to a delay in the Chinese consortium getting state approval on the financing, the sources said.