Russia-based
Severstal, one of the world's leading vertically integrated steel and steel-related
mining companies, has announced that an independent resource report has increased estimates of
iron ore resources at its Putu
iron ore deposit in
Liberia,
Africa to 4.4 billion mt within the optimized pit shell, with an average 34 percent iron grade. This represents a marked increase from one year ago when an independent report estimated Putu to have
iron ore resources of up to 3.2 million mt.
Severstal indirectly holds a 100 percent interest in Putu
Iron Ore Mining Ltd (PIOM).