Siberia | Materials, extraction

Three iron ore deposits in Irkustk auctioned at min. $55.5m

1 Sep '09
Irkutsk region subsurface management agency Irkutsknedra has announced an auction to sell 20-year licenses to develop three iron ore deposits in the regions Northern district.

Starting price for the three deposits is set at $55.5m, including $27m for Neryudinsky deposit, $5.8m for Polivskoye deposit and $22.7m for Kapaevsky deposit, the agency said.

The reserves aat Kapayevsky deposit are estimated at 502.4 million tons of iron ore, at Polivskoye deposit at 86.4 million tons, and at Neryudinsky deposit at 709.8 million tons.

The auction is scheduled to take place on November 27, 2009.
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Locations: Irkutskaya oblast

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