Three iron ore deposits in Irkustk auctioned at min. $55.5m | Siberia, Materials, extraction MarchmontNews.com

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 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.