19 Aug '09
Irkutsk region subsurface management agency Irkutsknedra has announced an auction for a license to develop Oktyabrsky iron ore deposit.
The starting price is set at $1.7m.
The deposit, with C1 reserves of 242.7 million tons and C2 reserves of 46.9 million tons, is located 36 kilometers outside the village of Chunsky.
The winner of an auction will be given twenty-year license, the agency said.
The auction is to be held on October 12, 2009.