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New Delhi, May 30

Jindal Steel and Power Ltd's plan to acquire the El Mutun iron ore mines in Bolivia is at a very advanced stage and the final decision would depend on the terms and conditions of Bolivian Government, sources said. After emerging as the sole bidder earlier last week for the mines, a high-level company team is now in Bolivia, officials said. The Al Mutun mines contain an estimated 40 billion tonnes of iron ore reserves and the other company in race was the L N Mittal group, which has been dropped from the bid earlier. The conditions include setting up of manufacturing facilities in that country as well as infrastructural set ups.

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