Metalloinvest announced of license prolongation for Mikhailovsky GOK for 20 years

The license for the right to use the Mikhailovsky GOK has been prolonged until December 31st 2034.

The leading Russian producer and supplier of the iron ore products and hot-briquetted iron Metalloinvest announced on Monday of the prolongation of the period of the license validity of the Mikhailovsky GOK for the right to use the subsoil of the deposit located in the Kursk region (Russia).

The respective changes to the previously issued license were introduced by the Department for Subsoil Use in the Central Federal District (Centrnedra). In the new edition the period of the license validity is prolonged until December 31st 2034. The previous version of the document gave the right for the development of the deposit until Jan 1st 2016.

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