Private investors will provide more than 2 billion rubles in funding for the project, which will involve the creation of approximately 450 jobs. Under the project plan, in the first year railway infrastructure will be constructed, the required equipment will be purchased, the open cast coal pit will be excavated and industrial facilities will be constructed to support the mine’s operation. The operational phase will begin at the end of this year, according to a statement from the YOC LLC.

1.25 million tons of blast-furnace and agglomeration ores will be extracted each year. According to assessments by geologists, the deposit contains 20.7 million tons of ore, with an iron content of 15%. The ore produced by YOC LLC will be used by Russian metallurgical companies.

The status of Advanced Special Economic Zone resident entitles a company to state support, including a 0% tax rate for the first five years, reduced social insurance contributions and the opportunity to benefit from a range of administrative preferences. These measures will enable the company to optimize its spending and implement its project more effectively.