The mining company, a resident of the Arctic Zone of the Russian Federation, is Russia's northernmost producer of high-quality iron ore concentrate. The mining and processing plant is part of “Severstal's” mining division. 6.6 billion rubles have been invested in the Pecheguba deposit project. "The Pecheguba deposit is scheduled to reach its design capacity in 2027," commented “Olkon” CEO Nikolai Seleznev. "According to our development strategy through 2040, total investment in the enterprise will exceed 90 billion rubles. The bulk of production will come from three major quarries: Olenegorsk, Komsomolsk, and the Pecheguba quarry currently under construction. The plant produces concentrate with an iron content of over 68%. Its main customer is “Severstal's” Cherepovets Iron and Steel Works. The concentrate is used for smelting iron, steel, and rolled metal products.”