The Russian Federal Agency for Mineral Resources Management has decided to auction a license for the development of the Oktyabrskoye iron ore deposit, which is located in the country's Republic of Sakha Yakutia.
The auction for the deposit, which holds a total of 290 million metric tons of iron ore reserves, is scheduled for October 19, while bids will be accepted till September 10.
The auction entry fee is Ruble 200,500 ($7,821), while the minimum bid has been set at Ruble 210 million ($8.2 million).