Bloomberg reported Sesa Goa Ltd. (NSE:SESAGOA,BOM:500295) may triple the original estimate at its Liberian mines.
As quoted in the market news:
Mines at Western Cluster Ltd., 51 percent owned by Sesa, a unit of Vedanta Resources Plc (VED), may have as much as 3 billion metric tons of the magnetite variety, up from an estimated 1 billion tons, Managing Director Prasun Kumar Mukherjee said in an interview. The company, India’s biggest iron-ore exporter, has 374 million tons of reserves at home. Output fell last quarter because of a mining ban in Karnataka state.