Dec 9 2014 Mitsui to Buy Into Some Vale Operations in Mozambique With prices for iron ore Vale s main source of cash having fallen by roughly half in . Baobab seeks partner for Mozambique iron project. Baobab seeks partner for Mozambique iron a key steelmaking raw material derived from the smelting of iron ore and Jindal have invested in coal projects in . .
Establishing Mozambique's Steel Industry. Centrally loed in a region with rapid growth in GDP and steel demand and with access to captive iron ore, and abundant water resources, Baobab Steel is uniquely placed to become Mozambique's leading steel maker, supplying construction steel to the importdependent region of SADC at a very low cost base.