Russia-based leading global iron ore and hot briquetted iron (HBI) producer Metalloinvest has announced that its subsoil licence for its Mikhailovsky GOK mining operations in the Kursk region of Russia has been renewed.
The licence was renewed by the Department of Subsoil Use for the Central Federal District (Centrnedra) and is valid through December 31, 2034. Previously the licence was provided up to January 1, 2016.
Mikhailovsky GOK holds the licence for exploration and mining of the largest iron ore deposit in the CIS - 10.6 billion mt of proven and probable reserves on a JORC equivalent basis.
Mikhailovsky GOK is the second largest producer of iron ore products in Russia, after Lebedinsky GOK.
In the January-September period of the current year, MGOK produced 13.8 million mt of iron ore (concentrate and sintering ore) and 7.4 million mt of pellets.