BAMAKO (Reuters) - Sahara Mining SA will build a $300 million steel mill in Mali with a 300,000-tonne-per-year capacity, the country’s mines minister said late on Tuesday.
Sahara Mining is run by Indian businessman Sandeep Garg and is producing iron ore from the Tienfala mine in Mali, which it says has reserves of 92.13 million tonnes.
Mines Minister Amadou Cisse announced the steel mill project on state radio and said it would bring in $300 million in investment and create 5,000 jobs.
He said construction would start in October and the plant would begin operations sometime in 2012.
An official at Sahara Mining was not immediately available to comment on Wednesday morning.