Tue Jun 21, 2011
MOSCOW, June 21 (Reuters) - Russian steel and coking coal producer Mechel (MTL.N: Quote) said on Tuesday it won the rights to the Pionerskoye iron ore deposit with an $11.7 million bid at auction.
The deposit, in Russia's Republic of Sakha (Yakutia), has estimated reserves of 137 million tonnes of iron ore, as well as prospective additional reserves of about 750 million tonnes.
(Reporting by Alfred Kueppers)
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