An agreement between the Amur Region and a British mining company was signed on Saturday on cooperation to implement an iron ore mining project, a source at the regional administration told Itar-Tass.
The agreement envisages investments of more than 31.9 billion roubles in construction of a mining complex at the Garinskoye iron ore field to produce 10.5 million tonnes of ore a year. It is planned to be put into operation in January 2013.
The project is of great social importance, regional administration officials say.
There will be 1,800 new jobs with a wage fund of more than 420 million roubles a year.
The British company in December 2006 won the right to work on the field, the largest in the east of the country. It won the contest, in which seven contenders participated. There are almost 400 million tonnes of prospected ore reserves, and there may be even 500-600 million tonnes. About half of the deposits contain up to 50 percent of iron, and the iron content is rather high in the rest part.
Source : www.itar-tass.com
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