Olkon has purchased a license to develop the Pechegubskoye deposit.
The reserves are estimated at 80 million tons of iron ore.
“The purchase of the license is an important step for the development of the Olenegorsk GOK. We will start design work soon”, Olkon managing director Denis Golubichniy said.
Additional prospecting work at the deposit and construction of the infrastructure of the new quarry could cost 3 billion rubles. (Ukrainian metal)