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 region’s 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.