Mechel receives licenses for iron ore extraction in Republic of Sakha

Tuesday, 13 March 2012 11:29:53 (GMT+3)   |  
       

Mechel, one of the leading Russian mining and steelmaking companies, has announced that it has received subsoil licenses for researching, investigating and extracting iron ore in the Sutamsky area and in the Sivaglinsky deposit, both located in the Neryungri region of the Republic of Sakha (Yakutia) in Russia's Far East.

The Sutamsky iron ore area's estimated reserves under Russian standards are 1.35 billion mt with an Fe content average of 32-40 percent, while the Sivaglinsky deposit's reserves under Russian standards are about 26.4 million mt with an Fe content average of 53 percent.

The Sutamsky iron ore area, whose 25-year subsoil license cost RUR 91 million ($3 million), is in close proximity to Mechel's own transport lines making it suitable for development. Ore to be mined from the Sivaglinsky deposit can be used in steelmaking without undergoing beneficiation. The 10-year subsoil license of the Sivaglinsky deposit cost RUR 140 million ($4.7 million).


Similar articles

Major steel and raw material futures prices in China - March 29, 2024

29 Mar | Longs and Billet

Iron ore prices drop by over $9/mt week on week, mood remains bad

28 Mar | Scrap & Raw Materials

Goa government to ease policy for liquidating iron ore dumps lying on private land

28 Mar | Steel News

Major steel and raw material futures prices in China - March 28, 2024

28 Mar | Longs and Billet

CISA: Coking coal purchase cost in China down 9.86% in Jan-Feb

28 Mar | Steel News

Brazilian high-grade iron ore price declines sharply in two days

27 Mar | Scrap & Raw Materials

Daily iron ore prices CFR China - March 27, 2024

27 Mar | Scrap & Raw Materials

India’s JSPL takes operational charge of iron ore complex in Venezuela

27 Mar | Steel News

Major steel and raw material futures prices in China - March 27, 2024

27 Mar | Longs and Billet

Vale selected to begin award negotiations for US briquette plant

26 Mar | Steel News