The president of the Russian Republic of Sakha Yakutia, Mr. Vichaslav Shtirov, has suggested uniting the republic's
iron ore reserves and the
iron ore deposits of the Amur region into a single lot, instead of auctioning them separately.
According to Mr. Shtirov, the single lot should be then put up for tender on the proviso of the creation by 2015 of new steelworks to be called
Far East Steel Works.
There is a large
iron ore deposit on the border between Yakutia and the Amur region on the basis of which an
iron ore processing plant with approximate annual capacity of 10 million metric tons of
iron ore concentrate might be created, Yakutia's press service said.