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Wednesday, June 22, 2011

MMK wins rights to iron ore deposit

Wednesday, 22 Jun 2011

Reuters reported that Russia Magnitogorsk Iron & Steel Works won the right to explore and extract iron ore at the Kulmyakovsky deposit in the Chelyabinsk region.

The company also known as MMK, did not say how much it paid for the rights to the deposit which has about 80 million tonnes of various grades of iron ore. (sourced from Reuters)

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