Global steelmaking and mining giant Evraz Group S.A. has announced that it is about to invest more than RUB 9 billion ($247 million) in its iron ore deposit in Yakutia "Tayozhnoye" before 2017. The construction of the Tayozhnoye deposit will start next year, implementation of the project is planned for 2016, while achievement of the projected capacity is planned for 2017.
The Tayozhnoye deposit is located 150 km north of Neryungri city, an important industrial center in the southern part of Yakutia, and close to the existing infrastructure - a railroad, power grid and a paved road. The mining capacity of the Tayozhnoye open pit is estimated at 15 million mt of iron ore per annum.