Yerevan /Mediamax/. Indian NMDC Spice International refused to purchase two iron-ore mines in Armenia because of the decrease of world prices.

Mediamax reports referring Metallbulletin that Head of the Company Rana Som informed on this.

NMDC Spice is a joint venture of an Indian state company, a producer of iron ore - NMDC, and Spice Energy Group Company.

According to the preliminary assessments, two mines in Armenia contain 370mln tons of iron ore. The total volume of necessary investments was assessed at the level of $500mln.