Russian steelmaker Severstal has announced that a class "A" mining license for iron ore mining in the Putu Mountain Range has been granted to Putu Iron Ore Mining Company Incorporated (PIOM), a Severstal subsidiary, by the government of Liberia.
According to Severstal, the issuance of the class "A" mining license follows the approval of a feasibility study submitted to the government on March 31 this year, in line with the mineral development agreement signed with the Liberian government on November 2, 2010, and in accordance with the previously announced plans of the company.
The issuance of the mining license indicates that Severstal's feasibility study responded to the requirements outlined in the agreement.