ArcelorMittal, the world largest steel producer, has suspended development of its iron ore project in Faleme, Senegal, due to the global economic recession, according to news reports from company sources.
The proposed $2.2 billion (1.6 billion euros) project in the south-east of the country was to start producing iron ore for the steel industry in 2011 and ultimately reach a production capacity estimated at 25 million tonnes per year. The project, with a new port and railway line, would create 10,000 jobs in Senegal.
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