Russia offering major iron ore license for RUB 2 billion

Interfax reported that the Russian Federal Subsurface Resources Agency is jaw crusher principle constrction working applicationoffering the license to a major iron ore field, thought to contain over RUB 6 billion of rich ore in the Belgorod region at a starting price of RUB 2.254 billion this autumn.

The deadline for applications to bid at the tender for the Chernyanskoye field is September 12. Technical and economic proposals must be submitted by October 21 and the tender results should be unveiled November 24. The field is 5 kilometers from the Chernyanka station in the Belgorod region which is home to some of Russia biggest iron ore fields. The Chernyanskoye field contains two main seams, Tsentralnaya and Perifericheskaya. Resources were appraised in keeping with the State Reserves Commission guidelines valid for 1967-1971. The field contains 170.253 million tonnes of rich ores to A+B+C1 classification and 5.966 billion tonnes C2; and off-balance C1 - 448.8 million tonnes and C2 - 28.5 million tonnes. The field's A+B+C1 quartzite ores total 1.738 billion tonnes and off-balance reserves are C1 - 449 million tonnes and C2 - 1.163 billion tonnes. The license area is...